Donald: Ok, had my beer and cigar! <g>
I noticed the previous FLAG PATTERN may have changed into a RISING WEDGE which is a bearish signal
I can see this!
UPPER TRENDLINE OF WEDGE = connect 9/4, 9/16, 9/24 which is pointing to 8200 approximately for MON/TUE.
I got the points 9/8, 9/16, and 9/24 with a one-day projection to 8250!
LOWER TRENDLINE OF WEDGE = conn 9/11 & 9/21 which is pointing to 7900 for MON/TUE
I get the same points with a one-day projection to 7800!
They do qualify as Rising Wedge Formations for sure! I did not check all indices, but the Dow Composite has morphed to one and also the NASDAQ Composite!
I have not taken the time to do time/sales/volume analysis. I will do that tomorrow! At this point, you analysis seems very sound! This has not been an easy market to call. And, for the most part, your calls have been as good if not better than anyone has. (And, that includes the guys that get paid.) Heck, I don't "pay" any attention to those guys! <g>
Of course you are not perfect. Hell if you were you would be buying Microsoft in a few months...right! Takes some “balls” to stick the neck out every single day!
This market is getting close to a decision point. I know a lot of bulls have already decided and so have a lot of bears. I am not either...just a follower of my technicals as are you. Overall, my stuff still points down!
Good Luck and Good Trading!
Regards,
LG |
