NYSE at trendline- Not buying this market

    Posted by maroonk1 on 10th of Mar 2015 at 03:59 pm

    NYSE WEEKLY

    However, from a TA standpoint,

    Posted by frtaylor on 11th of Mar 2015 at 12:00 am

    However, from a TA standpoint, your trend lines show an ascending triangle, which is very bullish! Has to hold about here, though, for it to remain valid.

    I've always found it pays to refrain from holding a static bull/bear point of view (essentially a prediction) based on chart patterns. Better, as Steve says, to react to the chart. In this case, one could go long here w/ a fairly tight stop. Or, if the support trend line fails, watch for a backtest and turn down to go short.

    Just some thoughts.

    Roger

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