Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: Perspective who wrote (2091)	2/8/2009 2:49:39 PM
From: jjstingray	1 Recommendation Read Replies (1) of 3209

I am thinking that is quite bearish. People have all kinds of opinions on put/call ratios, but when it drops to these levels, it usually spells a major sell off. I think we have two setups here. We are testing the breakdown of the wedge. We are either going to test the bottom part of the wedge and fails, or we bust up. These are two scenarios I think are important. This one says we are doing a 2 up here and fail at the wedge breakdown area. This one says we are in a larger C wave move up, or possibly a 3 up here. A break back above the 50 day will lend more credece into this setup.

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