Slider, with all due respect, let's change the timeline.
stockcharts.com[w,a]daclyyay[df][pb50!b200][vc60][iUh14,3!Li14,3]&pref=G
What do you see?
I see a strong uptrend, with strong bounces off the 200MA on a periodic basis. I see corrections back to the 200MA when things get extended.
I do see a potential double top pattern but as long as the 200MA is pointing up, that should not be a major concern.
Furthermore I see stochastics that are at the bottom of a cycle and starting to turn up.
On a weekly basis I see more possible room to fall, but there is strong support at the 200MA and also note that the weekly stochastics have often turned before they hit the bottom of a range.
stockcharts.com[w,a]waclyyay[df][pb50!b200][vc60][iUh14,3!Li14,3]&pref=G
All in all I see what appears to be a bull market with uptrends interspersed with sharp selloffs but an uptrend that has been in place since Nov of 2001.
In short, advice to get out on that double top was great advice. Telling people to dump it all now looks silly to me. In fact, looking at these charts, I think you should be telling people to buy.
Pray tell what do you see in these charts that I do not. I do not see how it can be intrepreted in many other ways than what I stated.
So please tell us exactly what you see in these charts and why people should be panicing out now.
M |
