Today's surprise gap down (after yesterday's hammer) trapped
every single person who bought into the ECB bond buying/QEternity
mindset of: "the market will only go up". Maybe the uptrend
line will provide support here? Maybe, but if the $NDX is any
guide, it has already broken that equivalent support line.
Posted by morton13 on 24th of Oct 2012 at 08:59 am
looks ominous! and if you look at individual charts out there
alot are broken...GE, IBM, AAPL, etc just to name a few....I would
look for short candidates on any bounce from here...
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Bull trap?
Posted by kalinm on 23rd of Oct 2012 at 04:11 pm
Today's surprise gap down (after yesterday's hammer) trapped every single person who bought into the ECB bond buying/QEternity mindset of: "the market will only go up". Maybe the uptrend line will provide support here? Maybe, but if the $NDX is any guide, it has already broken that equivalent support line.
Dow breaking uptrend?
Posted by kalinm on 23rd of Oct 2012 at 05:27 pm
Dow breaking uptrend?
nice chart, thanks!
Posted by morton13 on 24th of Oct 2012 at 08:59 am
looks ominous! and if you look at individual charts out there alot are broken...GE, IBM, AAPL, etc just to name a few....I would look for short candidates on any bounce from here...