aj, i think we are are making a bottom around now for another swing up, we had pretty oversold NY mcoscillator readings yesterday, plus we have 10,2-300 area as a band of support, and we broke that area as resistance back in march on two big volume white candles and now are pulling back on low volume.
The time off the bottom at similar sentiment reversals in april 01, and sept 01, had some lasting upside, before they fell out of bed.
i've got an elliot count on the nikkei that looks for another leg up after they test broken resistance at 11,000.
also p/c ratios which sometimes (rarely this clean) paint an elliot pattern,
stockcharts.com[w,a]daclyyay[db][pb21!d15,2!a.57][vc60][iUb14]&pref=G
you have 1 up from the 2/18 low,
you have 3 up to the 3/11 high,
now you have a big ABC correction,
which will lead to a five up.
to me the evidence weighs to me that we are going back up now,
but we are still in a falling trend from the recent tops still and all attempts to catch this possible bottom should be played with stops, just in case LG's, cat has another furball incident -g- |
