But I don't think the rally is going to go away for much longer. Watch for a head fake to the upside next week.
Friday, May 27, 2011
Deal - No Deal
A quiet day before the Memorial Day weekend. But look down at the Daily chart and you'll see a trendline going down that withstood buying activity once again after many tests.
But I don't think the rally is going to go away for much longer. Watch for a head fake to the upside next week.
But I don't think the rally is going to go away for much longer. Watch for a head fake to the upside next week.
Sunday, May 22, 2011
A Reversal?
We have a similar set-up like the one we saw a month ago on April 21.
While we have technical formations clearly showing reversal in buying strength, price may take a short break and resume to the upside.
A good breakdown will provide a very profitable summer, similar to 2008 when we saw record-breaking swings that yielded massive profits.
Either way, I am ready to trade one-day-at-a-time and take what I get.
While we have technical formations clearly showing reversal in buying strength, price may take a short break and resume to the upside.
A good breakdown will provide a very profitable summer, similar to 2008 when we saw record-breaking swings that yielded massive profits.
Either way, I am ready to trade one-day-at-a-time and take what I get.
The charts below give evidence to a good and profitable day Friday.
