On the turn you should see a few things.
- first a breakdown of the wave 5 trend,
- Some sideways moves, in a series of inside moves or hopefully higher lows and higher highs. AKA Acumulation.
- Then a Breakdown of the overall trend.
STT-State Street
Some Great progressive resistance 69.8 then grows to 70.2. Also Yesterday when most the Regionals made new lows at the end of the day, State Street did not.... It broke the 5th wave last week, If it can break 72 that breaks the downtrend, and should say "Buy" at about 70.6. Nice Acumulation, higher lows, and some indicators of higher highs.
Some Great progressive resistance 69.8 then grows to 70.2. Also Yesterday when most the Regionals made new lows at the end of the day, State Street did not.... It broke the 5th wave last week, If it can break 72 that breaks the downtrend, and should say "Buy" at about 70.6. Nice Acumulation, higher lows, and some indicators of higher highs. Marshall & Ilsley Corporation- MI
We had a wave 5, and have broken the overall downtrend. We would like to see it go to 23+, then pull back to a higher low... then break out... Nice distribution, It's consolidated in the past few days looks good, It didn't make a new low, but the morning low was higher than the afternoon low.... Could break down....
WB Wachovia
We have a wave 5 which... we havn't had a lower low in.... Yet, the down trend hasn't been broken, but we did make a higher high yesterday, from the day before..... Caution. but may start consolidation....
RF- Regions
We have some nice consolidation, starting, broke that wave 5, also higher higher high, and higher low.... There is some time to heal here...
This is Key bank... that dip is because they said they may have to cut their dividend.
we have a nice wave 5, it hasn't broken yet, But of due note is that there is a nice Healthy Acumulation move at the end of the day yesterday... it is a new low.
UB
This is UB, it isn't looking that good, but it is interesting to note that there was a higher low at the end of the day yesterday.
2 comments:
Futures are very volatile today... it is positive but the range are huge from positive 10 to 70
I havn't seen this market be this healthy in over a year. And by healthy I mean "good things are good" and "Bad things are bad".
The futures for weeks have been super cautous, +/- 25 pts.
which again is super healthy. As opposed to when they were +/- 150 every day.
NFP could spook us, but the dollar is healthy, oil is getting healthier.... Near term things are good.....
We wait for the market to get euphoric..... Then we sell it...
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