True .. but it was the count that I was really trying to get.
I needed to see how you passed over two other near highs and lows to pick the other for a count. I struggled for that abcde count for a while Sat. Now I have been enlightened ... Maybe. or Somewhat .. <ggg>
This looks like an IHS with a little Bull Flag on the right one.
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That White closing Bozu today is a pretty strong one in the reversal pattern. Confirmation tomorrow would be very nice.
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I'm looking at it like this ... this is just rotation. I don't see a lot of breakdown going on. It's more ... Zig Zag sideways than anything. Boring Consolidation or Corrective Waves .. but not Market Killer or Run for the Hills Waves.
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You know the Oil cos are still going to be making a killing in profits even at 35.00 oil. Alaska will be opened and the drillers will go nuts. And that in itself will bring oil down eventually. Not to mention all they need in the Canadian Sands area is a completed Pipeline and and hydrogenated refining to flip that sour the Tx Intermediate. I understand Canada already has this. Just not the completed pipeline. We need more Refineries capable of hydrolyzation here in the US.
I live in Columbus where the Pres spoke yesterday. I'm familiar with Battelle and the innovations they dream up in that Think Tank. When bituminous coal was mentioned yesterday and a solution to burn it cleanly to produce more electricity I could feel 4 States jumping 4 joy. Like .05 on the Richter scale.
The Bond Yields, especially the 10 and 30, and the USD strength are what bother me. We're headed into tax season and we're gonna have some selling b4 that. We normally do. But it may be concentrated in the Biggest recent gainers.
Just Random Thoughts.
Ray |
