excuse me but why so many people are bearish after yesterday's
big rally and momentum pickup? it broke the trendline and triangle
and never came back in there - should we expect further upward
swing?
Posted by simon_says on 14th of Jul 2009 at 01:12 pm
You make a vaild observation. However, the downward divergence
I'm seeing in the 5min / 15min charts (in both RSI/MACD) would
support Bill's postulation of a bear flag. Need them to start
turning up
right now to make your bull pennant
Posted by billrosen on 14th of Jul 2009 at 01:10 pm
Yago you may be right, we might be going higher, just pointing
out a possibility along with some obvious divergences on the
shorter term charts, also a bear flag angles up after a
downtrend (which is what I saw as a possiblility) and a bull flag
angles down after an uptrend...
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SPX bear flag maybe?
Posted by billrosen on 14th of Jul 2009 at 12:46 pm
SPX bear flag maybe?
I see a possible bull
Posted by yago on 14th of Jul 2009 at 12:55 pm
I see a possible bull flag instead.
excuse me but why so many people are bearish after yesterday's big rally and momentum pickup? it broke the trendline and triangle and never came back in there - should we expect further upward swing?
You make a vaild observation.
Posted by simon_says on 14th of Jul 2009 at 01:12 pm
You make a vaild observation. However, the downward divergence I'm seeing in the 5min / 15min charts (in both RSI/MACD) would support Bill's postulation of a bear flag. Need them to start turning up right now to make your bull pennant
Yago you may be right,
Posted by billrosen on 14th of Jul 2009 at 01:10 pm
Yago you may be right, we might be going higher, just pointing out a possibility along with some obvious divergences on the shorter term charts, also a bear flag angles up after a downtrend (which is what I saw as a possiblility) and a bull flag angles down after an uptrend...