So with no push to the upside.... Tomorrow is important, if Friday was a "Failed Move" as in a nice Bear Flag.... But as the motto goes "After Failed moves, come fast moves".
so, if we had a Failed High, we should see a heavy move to the downside.
but... One of the indicators I sometimes use for a "bottom" is a nice bear flag... so... we may only have one more leg down... So as that goes.... is the Random bullshit that goes through my head....
but... it's a nice topping pattern... But Like I also show, the trade channel is still in tact, and so is the "Swing" in the charts... So... the Up Leg... has not Resolved...
Monday, April 27, 2009
I tried to post a chart... but there is some kind of issue
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So with a failed move, which will drop more,the momo's that have gained the most the past week ot three weeks? Ford, JAVA, WFC?
or the chronic underperformers? TYC, OMTR, APOL, COCO?
In other words, one part of me says to look at those at the top of T.Lo's list which may have farther to fall in a broad sell-off. We (royal we) are still above the 84.30 support, but now below the trendline support. The "higher low was 83.70, and falling below that could lead to 78.50.
Danger, Will Robinson.
I don't know...
I was thinking materials.. since the dollar seems to be getting stronger...
but...
that has been a very strong gap fade..
but the fear doesn't seem to be there.
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