Well bear klown fans, todays action clears up the question of whether dec 5th was a 5th or a 3rd wave, so i was guessing it was a 5, darn -g-
these guys are projecting 5 up at 950 on the XCI, at least we have another 10% to go to the may highs on XCI, i think we may have a shot at the may highs in nasdaq at 2250.
markets.tradingtech.com
the st,it moving averages on the put/call bottomed in mid-late november and pessimism grew until that big trin sell-off on dec 20th (i think,,,, thats where my punching dummy told all his disciples to be sure to be in poots and shorts -lol-)
now the averages are turning back down showing increasing optimism and issuing a buy signal
stockcharts.com[w,a]daclyyay[dd][pb21!b10!a.62][vc60][iUb14]
could the moving averages (21) be headed back to the may highs at .62, if so that would mean we have quite a bit more upside, i think there has been a large consensus of market watchers that this consolidation in the averages was a topping pattern,
and to fool the most, it will turn out to be a base for another leg up.
there was actually a bearish H&S pattern in the NDX, which looks like it has failed, thats the kind of stuff of bull markets. |
