Steve,
csta.org
Take a look at Lisa's favorite candlestick website. Within a nine day period starting AIG 4 we had a TWEEZER BOTTOM, INSIDE-OUT REVERSAL, ABORTED REVERSAL, ENGULPHING REVERSAL. Thats alot of reversal signal within a 9 day period.
>>>>>>> Most of us are now looking at a pivot, a point at which the market/sector index indicator we are watching would tilt sentiment definitively, one way or the other <<<<<<<<<<<<<<<<<<<
I have been mentioning the STAIR-STEP to help explain the huge volitiliy in a specific range, which is the cause for the candlesticks to give so many reversal signals. I have concluded that this triangle is a VERY TIGHT AND VOLITILE RECTANGLE.
There is a chance we may see a repeat of this pattern over the next 4-6 days to make trading difficult, with no clear direction.
I agree, we could easily see the 8500 range. Hey can you imaging another STAIR-STEP with 150-200 point swings in the 8700-8500 range. Boy, that would drive everyone crazy, both BULLS and BEARS.
Seeya
Have you ever seen so many reversal signals in such a short period of time???
Seeya |
