Saturday, June 23, 2012

Low in volume wise, uptrend

Looking at the MEBOB indicator but not as strictly as he goes I see an upward trend for this month of June and it matches the seasonal pattern of early July strength.
1-1 was low to high
2-1 was low to high
3-1 was low to high
4-2 was hi to low
5-1 was hi to low
6-1 is looking low to high ????
7-2 could be high to low ****



Thursday Close
Guess I'm the black cat because today looked more like a STL or a 1 day later 55TDL
These markets that plunge into the close near the LOD seemed to have dead cat bounces.
Look for a lower low then rally. IF we can't close above Thursday close then more down.
trin 3.43 and a few vol spikes.

This chart on Friday has the low in for now. Jerry O

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