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, April 19, 2010

swing

So, futures are down 5 that is a retest of yesterday's low that is the white arrow on the spx chart.


The question is.... was the bounce, from friday, just a little Bear flag?

Or are we setting up a panic low on fridays low, a low that will hold until 11 or midday, and then it will bounce.
There is a chance we have another HUGE leg down....

but to me ... it seems like wishful thinking. Once this gets a decent bounce..

We need to see the next Upswing. The first downswing is Now... and we still need to see the next upswing, before we are convinced there is a Downtrend on the daily.

NOT OUT OF THE WOODS YET!

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