poooldar, way too early to call your formation idea.
Someday, i do suspect we will retest downward, i do not think the retest will get close to the present 2008 lows.
On this try, there are those who think we will get down as low 8400 on DOW. Others think this maybe a retest of the present Shoulder Line.
Either is possible, the first would contradict the Bullish case right away. The downer yesterday is being blamed on the HedgeFunds, if those are right, they would carry on for more down.
The markets are Overbought, and do need more down before anymore up is logical. See McClellan Oscillators, they are still in the Sky area, just under the clouds.
chi2 |
