Wednesday, February 8, 2012

Hard to call a top yet!.

Looking at stocks above 50dma it's not as high as last peak. The actual sell comes in the red zone but that leaves a lot on the table.

To pull this together this chart of up volume has been in a sideways movement . Unless we get an extreme
movement it would be hard to call a top.

Jerry O

Monday, February 6, 2012

Why fight it.

Of course a one day breakout doesn't pass the test of time but volume has been picking up. Now high volume to me comes at tops or distribution.
If we remain on this pattern and with the 144TDH hitting early Mar we could see final targets of Spx 1402.

Downside very limited until it isn't.
( A big breakdown) not expected.