Monday, June 29, 2009

Channel Magic: ES and the Transports

Charts for our perusal. The Transports are sporting a nice Doji, but don't get too excited about Dojis, they happen often. But a channel kick down, and a it's time to pur that on your watchlist and maybe even have a short in queue at the channel line.

I don't believe too much in "window dressing" but I do believe there are lots of money managers out there desperate to have a good quarter and willing to put your money to use in order to have tomorrow pushed upward again.

Thinking warrior like...another gap down, another mini bear trap, and then a good run up to respectable positive numbers.

By the time Joe Six Pack gets his 401K statement in a few weeks, earnings will be on us. Hard to say how those numbers will look. I think the stock market recovery is far faster than any real recovery, and insider selling is at record levels.

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Insightful and Useful Comment!