The market is weak, The Euro is pushing it up and nothing else that I can detect. Are there strong earning and emplyment reports? Not from what I see.
Will the market form a symmetrical H&S? I think not, I think this push will end before that. This latest ramp of pimp did it's job....whipsawed on a grand percentage level. I was short at 1103, which I thought was an awesome entry, and yet the market came back up in a a u-turn and took out me position, for a loss rather than a 20% nice gain.
Good luck.
I don't know if it's bad news for you (ha ha), but I'm of the same mind as you on every issue you've brought up lately, including this 1140-1170 RS notion that a lot of people have. it makes no logical sense, and of course, this being the stock market and all, we should probably listen to them....'logic' not being an operative word when it comes to the market, after all.
ReplyDeletebut I just don't see it, either. seems more likely that a deformed, fugly RS is already done or just about. we're sitting right at a nice cross of three different trendlines that I've got drawn on my charts that's providing good resistance....well, we'll see, I suppose.
May I ask what your trendlines are?
ReplyDelete