Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: skinowski who wrote (426)	5/10/2008 10:22:47 AM
From: AllansAlias	Read Replies (4) of 3209

Bear map revisited with $OEX. I continue to be torn here as to where the market is going this summer. I continue to slightly favour that this is a trap and we head back to the lows, but I am hanging in until the price action tells me it is broken. This is the bearish map. It sees the March lows as the end of the first leg of impulsive down. That's all quite well known. The only aspect I have added is the notion that, if we do pop next week, we could have a valid bearish wedge to short. It's not a valid wedge yet, as it would need another high.

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