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"

Monday, March 16, 2009

Here is our wedge

we broke the trend line... Right? so what does that mean?
Well it's about how it behaves outside the trendline. Vix is in the 40's

Let me also point out the lack of wedge volume confirmation. It does look like today is reduced volume from last week... But... we will need to look at it later.
SMI went to a sell.... there is a chance that this is the start of a wave 4 consolidation.

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