TYC; chart does look lower.
I am expecting a technical bounce soon, real soon. My indicators are running out of down boxes which means we are due for a technical bounce. Am thinking of the QQQ, DIA, and the SPY, all conservative plays to the upside. All have options too. I calculate we are a day or two away from the technical bounce. If that.
Darn! I will be away Monday and Tuesday.
Would expect most spikes down to maybe bounce to their areas of resistance. Would expect TYC to bounce to 50,
51 the most. Cannot see any charts breaking BRLs.
Do not expect the rally to more than bounce to the areas of break downs. TYC 50, 51, C 48, BA 53, GE 47, GM 57, HD 47,
HWP 20, IBM 101, JPM 41, MMM 108, MSFT 58, UTX 70. I do not expect the beginning of any new bull market.
Then from there it is anybody's guess. I would guess that this is going to be a great time to trade as these issues just back and fill for quite a while. Buy the higher lows and sell the lower highs for the forseeable future as most issues just build triangle patterns.
Then again what the heck do I know?
I could very well be wrong again.
I'm still just learning how to play this game,
chartseer
PS; I am very disappointed that the government isn't going to break up MSFT. I was going to jump into MSFT if it was broken up into two very aggressive companies with lots of cash. Oh well "the best laid plans of mice and men". Believe GAtes is even more disappointed than I am. Think he would have enjoyed two cash laden aggressive companies. |
