Annoy me? Nahhhh. I'm just surprised, that's all.
It's not that I see reasons to be bearish, per se. I just see tons of reasons why bulls should be concerned: lots of formations that aren't showing the bullish followthrough that they should (though which aren't negated). Then things like IBM. Sure, it got repelled at resistance. No biggie. But today's move down broke its really steep uptrend, looks ugly on a candle chart at the moment, implies a close below the upper bband after a close above it (a sell signal for many), and so on. AFFX now, to me, looks more like a bearish wedge than a breakout heading to 31. Now again, in both cases no damage has been done yet, and even the sell signals are just based on an indicator or two ... but there's a ton of warning signs like these. And I think those signs have been building for days, yet they don't seem to slow down your rampant bullishness <g>
Now, I could see us finishing up a c of 4 (or c of iv) here. The dow is pretty down-up-downy. So it's not like I am in any way gung-ho on a bearish scenario. But why is it that I see the potential for a deeper correction here, but you seemingly don't? That's what annoys me: as always, it's all about me!
the freep |
