Monday, March 19, 2012

Hold confirmed.

Hold signal today. Let's give this short signal a few days to work itself out... I'm off to enjoy the great outdoors. (80°F in Ohio in March!)

9 comments:

  1. http://www.youtube.com/watch?v=1yZbmaL9VoM

    eeeew, yuck...

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  2. Blah... I smell bull trap. Almost all evidence I've examined tonight says we're going down.

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  3. J, the futures say that your instincts are right.

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  4. The bank news gave this market an extra pop. With all of those bank topping tails yesterday we could be in for a down turn.

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  5. Hold signal expected.... Should be more downside the next few days.

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  6. Thanks, J. And, fwiw, I agree. There's been a rising wedge forming on the SPX 5 minute chart all day, suggesting lower prices ahead.

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  7. Cobra is calling for a textbook target down to SPY 139.00 before the next rise. Who am I to argue...he's been dead on lately.

    Helps that we aren't getting a buy signal on a down day in a healthy market. This usually means more downside coming...

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