Thursday, February 10, 2011

Inverted cup and handle, middlin performance, and 5 up is still up

There was a little dip yesterday, and a big dip overnight futures. 
Tuesday we posted this inverted cup and handle (and a top call)
However, given that IC&H Inverted Cup and Handle performs just so so in a bull market, and the move itself it not usually so large, I am a bit less excited about this Bear Treat.

http://3.bp.blogspot.com/_Gi-9fDeQJwo/TVLTg__pFJI/AAAAAAAAEIY/Pgkw3MhDxIs/s1600/nq+short.png

Also, we have been going up in 5's and correcting in 3's that hasn't changed, so their is strong Elliot theory that says there is more upside left.


So time will tell.


Here is the overnight results on the futures.




Drop a comment--comment count has dropped way off (another sign of a top)

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Insightful and Useful Comment!