This feels and looks like a short term reversal pattern...... I'm nervous about saying this. I guess my thesis is that With my rule of 3's This is just a short term retrace of the last 3 days... a 50% retrace... As opposed to the one I was talking yesterday, because you should break down after that retrace... So it seems like the market needs to go back and get more sellers.
short-covering going into the weekend?
ReplyDeleteyou have to realize this isn't enough to scare people out on monday.. or people who havn't been scared out.
ReplyDeleteWith the exception of the boggyman the market got this morning.
This also isn't enough to force more massive margin clerk action.
drip...drip...drip...
ReplyDelete