Hey Bobby,
I really feel pretty good when we are both on the same side.
I've noticed in the past the results are pretty good.
home.earthlink.net
This is the current situation for the compx, I've made a few lines here and there to highlight what I think are the key
components at present.
Stochastics were trending down since the initial space launch after the April bottom. Recently, the trending was broken to the upside which perhaps is indicating the downtrending of price is over and just maybe, as we two currently suspect...another stage of rally may be on the table.
I'm thinking a major clue should be presented this week, as close as we are currently to overhead resistance, around 2125. I think if we break through the DT line, rally is on.
As there is very little room from here to the resistance: stochastics, MA cross over, ADX crossover, price above the blue line 30ema all indicating either a big fake out false signal for rally or that the real thing might just be directly in front of us.
Coupled with JT's bullish Rydex numbers, I have to expect the upside is more probable than the downside.
Neither one of us has a history of perma-anything or tendency for remaining wrong for long, errors in judgement are quickly rectified when the chart tells as always who is really the master. I suspect if we get canceling signals for the current suspected rally follow through, we will both be running for the hills.
We'll see what shakes out quite soon.
Regards,
Eichler |
