Wednesday, December 1, 2010

Trend Still down unless

I counted today as a 144TDH from the flash crash and I think that is why we held up. If right after a gap up open I think we back off rest of the day

This is a chart of the $BPOEX showing a divergance and signs of a top.
Sure we can bounce after this many down days but we are not oversold.
Are we still in a trading range of 1173 to 1200? Well till something breaks or we take out 1206 Spx the Trend is still down.
Here is an interesting chart I made with gann box from the July 2007 high, it didn't work from the ATH in Oct 2007. Kind of showing a 32 week pattern. We can watch this unfold if it does.
click image to expand
Feed the fish please.

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