Tony asked about this yesterday....
so... with our little wedge, in the earlier chart, we now have a new low made on lower ticks... Meaning a secondary low..... or a divergent low..... Also our SMA is looking to turn up..
if this was less of a wedge pattern... it would be clearer... because that is kind of slim Pickings.... Meaning... we may get a few more slightly lower lows here.... But she looks to bounce.. but it's not exactly... a high bounce....
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
Tuesday, June 23, 2009
Ticks
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