Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Thursday, January 31, 2008

Technials

besides weak volume... I see little bearish in the charts.

there are possible cup and handles, inverted head and shoulders... all kinds of bullish indicators throwing us into th 1450's on the spx

I'm not saying it, things can go wrong..... this market is crazy.

i looked for wedge reversals, and I'm not seeing it.....

it's time for massive "contrarian" moves, They will be misguided... and it will fail.... but a retest of the upper descending trend line, makes every bit of sense.... We violate the down trend channel, then we test the up side of the trade channel. This is very normal trading.....

A failure at 1500 even is very Bearish... and we may make another new low.... 1530, would mean a retest of the low, which will succede... and the bear may be done.....

This is just my Chart Astrology, I've been wrong, and I'll be wrong again.

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