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Saturday, May 30, 2009
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4 comments:
Seems the major indicies are at a resistance but financials have broken out.
Since financials usually lead the market, that will help take out the resistance level leading to higher market.
Although there may be a small pullback to the breakout level in financials giving a better entry for a long.
Great charts, Stewie. Thank you for posting them. I'm glad I came to your blog first this Sunday evening. Now I know I have a lot more charting and preparation tonight before tomorrow's open. Those charts say opportunity all over them.
get to work then gluon!! :-)
catmtrader: friday's action was extremely bullish in my book. QQQQ/ndx leading the pack to new highs. transports tested the 50 day ma successfully and now breaking out of a falling wedge and now xld/rifin/xbd leading out of a falling wedge. it's a matter of time before the bulls really make their presence felt.
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