OJ,
First, day to day moves are nearly impossible for me to anticipate, this is why I position trade. Second, I suspect that next week should see all the indexes move much higher after this week's consolidation, I don't see any evidence to indicate otherwise right now.
The chart that Fred posted is pretty accurate, and shows that a pop to 68 might be all she gets, if any pop at all.
A more current fork can now be drawn from the recent high, and the way I read it tells me that DELL's a buy at around 48, if it ever gets there, the extreme low of this sell off if it keeps selling off.
This may not be what you want to read, and I may not be right, but this is how I see it.
Keep in mind that the fork has nothing to do with price trend, it's a remarkable tool that gives you entry areas of the most likely turning points with a very high degree of reliability, where buying or selling is finally exhausted, and we may have seen that exhaustion turning point at that midline after that one pop up above that line. If prices ever get to 48, it's an area where selling will be exhausted.
GZ |
