I still think sell off into the close.... but this wave pattern could have one more high....
all my gains.... into a reversal.....
Fortune favors the brave... or is it the foolish?
Tuesday, April 8, 2008
rollercoaster
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4 comments:
It's a battle. The bulls may be losing interest although I'd like to see a little more volume on the downside.
that was probably a reversal...
now that all that nonsense is over with... By pointing out the volume, I was more pointing out how much selling it was taking to get through that resistance.. and that that wasn't the most ... Bearish thing.
I think that is a reversal, since we should have had a "Wave 3 kind of day" and it didn't work out...
Seems like a failed Wave or ABC correction.
These trades keep not working out for you.
One of the things you are looking for is that Wave 3.. which normally is identifiable... Another clue to the Turn was how hard it was to see the 3rd wave on the downtrend.. and how much easier it was to see it on the uptrend... That kind of indicates our overall sentiment.
I'm suspecting a heavy uptrend tomorrow... maybe you can find some easy money there... I'll suspect down futures maybe down 20 on the dow.. I bet we just rally from there...
If the futures are up... We will "Gap fade"... then after that sell off, I bet we rally... but it's possible the bulls won't allow that to happen...
What we are going to need, is some "Bear Capitulation"
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