Even though this is a Wednesday and the tradition is for, Just Charts (no words), I wanted to comment on this bigger picture chart.The rally anticipated late yesterday is unfolding Wednesday morning. Rally or not, the entire move from early March has still not retraced 50% of the entire decline from 2007. Nor has the False Bar Stochastic triggered an "Trending Up" black horizontal line. I can't remember when the FBS has ever stayed so long in an Overbought or Oversold area---7 months---without recognizing a Trend.
My forecast remains, "Watch out below." My trading remains in the direction of the trend as defined by BWT and ATR.
When these two opinions copulate, the fireworks will begin.
A
2 comments:
Agree with the WATCH OUT BELOW view.....it just seems too easy for this so called recovery.
Im largely in cash and some nnvc. Dollar reversal is also on the cards...too many are short king dollar.
Look forward to the fast fire interview.
I agree too. something has to give way. but When. When.
when the dismal christmas retail sales results are released?
when Iran is attacked by the forces of the psycho new world order? when goldman sachs decides to crash the market and make their next trillion shorting the market?
when 'georgia' invades south ossetia again?
when the 'swine/spanish flu' suddenly breaks out somewhere in a big 'politically sensitive' city?
I'd like to think the world will not get triggered into some sort of Chaos by hideous political events,and that the markets will just move along in ways more normal, including the normal correction that ought to be happening (since august).But if the market continues to soar,within a diseased economy whose true health is not reflecting market prices,this has to be called a reinflating bubble,and one has to ask,what will be the trigger that pops this bubble?
Post a Comment