Bottom-line: We will test and probably blast through the 1/22/08 low within the very foreseeable future.
And for your entertainment pleasure I think this is a fitting video.
Blog description
- Rodney
- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Thursday, February 14, 2008
Death from above.....
According to what I'm seeing the chart below pretty much depicts the majority of index charts. A downward bear channel where the top of the channel was tested and failed. If you look back the last time this channel top was tested and failed on 2/3 & 2/4 you will see what is shaping up to be some nasty downside movement coming. This is NO time to be long, ANYTHING, unless you are into inverse ETF's like the TWM just to see charts go up instead of down.
Bottom-line: We will test and probably blast through the 1/22/08 low within the very foreseeable future.
Bottom-line: We will test and probably blast through the 1/22/08 low within the very foreseeable future.
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