This daily chart still looks bullish to me. Today we blew
through a cycle level - blue dotted lines - and maybe we find some
retrace tomorrow around that and the middle bollinger band, but the
MACDs are just turning positive, and the m3 Switch just turned
green for a trend change, even if its a whipsaw we could make it to
overhead resistance.
Posted by marketguy on 1st of Sep 2010 at 09:07 pm
agreed....after the retracement I think we go to a minimum of
1090 but most likely higher than that....should we take out 1140
then a new recovery high "could" be a possibility....losing 1040 on
a closing basis (and ultimately 1010) would negate that
obviously....
still more upside?
Posted by Michael on 1st of Sep 2010 at 08:53 pm
This daily chart still looks bullish to me. Today we blew through a cycle level - blue dotted lines - and maybe we find some retrace tomorrow around that and the middle bollinger band, but the MACDs are just turning positive, and the m3 Switch just turned green for a trend change, even if its a whipsaw we could make it to overhead resistance.
agreed....after the retracement I think
Posted by marketguy on 1st of Sep 2010 at 09:07 pm
agreed....after the retracement I think we go to a minimum of 1090 but most likely higher than that....should we take out 1140 then a new recovery high "could" be a possibility....losing 1040 on a closing basis (and ultimately 1010) would negate that obviously....
Thanks Michael. Appreciate you sharing
Posted by Peridot on 2nd of Sep 2010 at 09:24 am
Thanks Michael. Appreciate you sharing the chart. p.
hi peridot -- sure.
Posted by Michael on 2nd of Sep 2010 at 09:25 am
hi peridot -- sure.