Thursday, May 14, 2009

Today's Bounce



Resembled more a bearish pattern than the resumption of the bull. Expecting further deterioration.
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4 comments:

  1. AnonymousMay 15, 2009 at 1:14 AM

    Hi great charts!

    What are the pattern's name in this first graph please?

    Thanks.

    Peter.

    ReplyDelete
  2. StewieMay 15, 2009 at 6:25 AM

    these are known as continuation patterns: look up: BULL FLAGS, PENNANT, FALLING WEDGE, RISING WEDGE, Bear Flags.

    All great patterns and one of mmy favs. learn these, you'll do yourself a favor.

    ReplyDelete
  3. ShawnMay 15, 2009 at 6:58 AM

    Stewie, I have a great concern for this supposedly IT top. VIX just broke lower and hitting the support trend line again. I posted this chart yesterday on previous topic.

    Are you concerned?

    Thanks
    Sean

    ReplyDelete
  4. StewieMay 15, 2009 at 7:10 AM

    shawny, i am not concerned because i am not short and you make a damn good point. what's up with the VIX?? drifting lower everyday.

    ReplyDelete