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.
Tuesday, March 31, 2009
target here is 81
umn... I'm a little suspect. That green line is significant overhead resistance.
umn... I'm a little suspect. That green line is significant overhead resistance.
Agree, with a close below 80 today, the bearishness is overwhelming. Any close below 81.5 by the end of the week is pretty dismal.
ReplyDeleteThe technicals are not exactly scaring the short sellers. Costanza would be a buyer here.
looks like we have an 11am high, and we need to build a shoulder.
ReplyDeleteDo you mean the shoulder with the head at the Mar 9 low for an inverse h/s?
ReplyDeleteor a shorter term bearish h/s with the head from last Friday?
inverse from yesterday's low...
ReplyDeletebut it's struggling to form...
that is sort of a mistell
ReplyDeleteon the spx there is no left shoulder, but in the financials there is one formed on yesterdays opening low.
but the spy looks like it wants to form some kind of wedge up to the 81 level.
then consolidate and ... we will see.