>>>>AOL is in a downtrend and when the bounce failed at the 20EMA as expected, get out of longs and/or get short<<<<
IS, i played the bounce, but can you comment on the the classical turn of support into resistance at the 112 area, which puts the burden of proof on the bulls.
Yes we do have an inverted H&S pattern, but those classicly fail in bear markets, like they classicly fail in bull markets.
Since the internets lead the way to new highs last fall, i believe they have a special significance to overall market direction, more on an emotional/psycological level than most in the business will submit too, thats why i find leader AOL's chart keeps me on the question side, until proven otherwise.
We have been in a bear market in the US bonds for over 8 months now, an equity market that has diverged from this fact and from a/d and mo's is somewhat suspect don't yu think.
The most probable situation seems that we get a .25 rate hike and an earnings season rally, however too many people are banking this and that also makes me suspect.
bwdik,
bb |
