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"

Sunday, October 11, 2009

Lets look at some charts




On the Daily... Kissing that Trendline.... OOOOhhhhhh lookie at that lousy Volume, gets any lower .... it will be a record. Let us also comment that the breakout volume was solid.

Lets look at this last leg... I've got a target that is around 4pts on the SPX higher. In wave 3..
this could be wave 5

Here is the money... This chart sucks but I don't want to redraw it... certainly not for the money you pay.... It would be better in a larger time frame... but... DIVERGENCES... 1 push 2 push....
3???? nice wedge there...
Now in green I through up what an upside breakout would be."the Terranova Super Spike"

I've looked around, nobody has seen this same pattern. Seems like the wedge resolves by tuesday.
to be honest... it's all about the bank earnings...

I know this may be you I'm talking about... but it's not... I suspect there is some "Gap Talk" out there, which has some Bears hanging on.... Now I don't see any bears around... unless there are some running around talking about Gaps...

Lets remember there are over 10 gaps since march which remain unfilled... so if you are hanging on since the first one....

I told someone that it seemed obvious that we were going to move to new highs again...hard to think anything else... the question is ??? is that the good contarian sentiment.

besides the gap folk... nobody is ready for it...

but like I always say.... Lets catch it on the other side of the apex....

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