Wednesday, July 7, 2010


Well, we broke yesterdays high and are finding ourselves distributing now above the 1040 range. As bullish as it gets. From here I see more sideways consolidation with a possible bear fake towards the 1031-1033 range during the afternoon.

I will be watching the Germany game this afternoon so I will be gone after lunch. There is another very interesting chart coming tonight that has thus far confirmed major bottoms in the past 18 months, a chart that is also confirming this as a bottom. But it needs to be taken with a grain of salt as its highly likely that we have changed our major trend and if its pointing down for the remainder of the year, those signals will likely not support our 1010 lows as a bottom.

No comments:

Post a Comment