SPX and Dow look a little like they could be forming falling
bulllish wedges on the 30 and 60 min charts. So maybe your 5th wave
up will indeed become reality. But first I would like to see
another lower low today preferably around 1087 ish or even 1084
ish.
looks like the SPX did a late dump and hit 1084.90 well it may
make that extra point .50-.90 with 15 minutes to go but I
took profits from my 1 day short already.
Even though the 60 STO never turned up yet, I figured I was
better off taking the money and running rather than wait and see
some of it evaporate on a potential late buying spree.
I can always scale back in tomorrow or position again if we
rally tomorrow.
So is this something really bearish if a falling bullish wedge
breaks down and out?
Posted by cwa82675 on 12th of Nov 2009 at 04:13 pm
sorry if I had anything to do with it. still looks like we
are moving up though, lots of overbought conditions are relieved
with little giveback in price. tomorrow is going to be
boring, but Monday should be interesting.
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Falling Bullish wedges
SPX 5 min
Posted by perthx on 12th of Nov 2009 at 02:26 pm
SPX and Dow look a little like they could be forming falling bulllish wedges on the 30 and 60 min charts. So maybe your 5th wave up will indeed become reality. But first I would like to see another lower low today preferably around 1087 ish or even 1084 ish.
SPX late dump
Posted by perthx on 12th of Nov 2009 at 03:47 pm
looks like the SPX did a late dump and hit 1084.90 well it may make that extra point .50-.90 with 15 minutes to go but I took profits from my 1 day short already.
Even though the 60 STO never turned up yet, I figured I was better off taking the money and running rather than wait and see some of it evaporate on a potential late buying spree.
I can always scale back in tomorrow or position again if we rally tomorrow.
So is this something really bearish if a falling bullish wedge breaks down and out?
sorry if I had anything
Posted by cwa82675 on 12th of Nov 2009 at 04:13 pm
sorry if I had anything to do with it. still looks like we are moving up though, lots of overbought conditions are relieved with little giveback in price. tomorrow is going to be boring, but Monday should be interesting.