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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: penthouse mike who wrote (51599)	6/10/2013 11:07:02 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 220737

Yes, I do feel very comfortable with the long side here, the upward thrust of the past two days was an impressive rally off the 50 DMA as well as a great confirmation of the NT buy signal given last Thursday... this rally is a broad one with plenty of buying on any pull back... I think we're going higher sooner than later, the selling cycle is running out of time... this market could always suddenly sell off and all bets are off, but the action doesn't look so weak... the near term and longer term chart patterns continue to look very solid... it seems everything is pointing higher right now... but, my stops are in place just in case, but my money is on the long side for now... GZ

To: penthouse mike who wrote (51599)	6/10/2013 11:18:17 AM
From: GROUND ZERO™	Respond to of 220737

One thing I would like to mention here is that price is not the only thing that has a trend line of support and resistance... there are trend lines for time as well, both support and resistance trend lines for time itself... time and price are equally as important and they cannot be separated from each other... both AAPL and GOOG broke above their downtrend time lines this morning... if AAPL closes above 445.00 and GOOG above 883.50 today, then both of them will have turned higher with some conviction... and this can be said for many of the other market instruments today... this is mainly why I'm comfortable on the long side right now... today's close will tell the story... GZ