Sunday, May 17, 2009

Very Awkward Looking Corrective Action




The pullback thus far on the indexes resembles a correction within the context of a bullish impulse move. I do not see any hardcore bearish action yet. It feels like many(me included) are expecting a big decline starting this week but i am just not so sure we are going to see it. I could be 100% wrong and in which case i'll make the necessary adjustments to my game plan. Maybe a small bounce might be in order. So we'll see how these patterns play out come monday or tuesday.

3 comments:

Blue said...

Might see a run down similar to the run up. Morning gaps, faded or not, and low volume days with wild closes. Whatever the close a possible fade on that in after hours trading, then the pre-morning fuckery ensues to open the next days trading. Lately it's been huge pre-market futures moves 1.5hrs to market open.

Stewie said...

it's been all about huge gap down/up opens lately.

Cliffynator said...

Yeah, what's causing that?

Blog Archive