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.
Tuesday, September 23, 2008
Things you can not see by only looking at daily charts
What you don't see about today's action if you are only looking at daily charts is the beginning of a bottoming process. These 20 day 30-min charts show that the "Fade" downtrend from the "Financial Bailout" was broken. Coincidentally the timing of this bull move immediately followed the ending of the Senate committee hearing starring Paulson & Bernanke. And as always Fibonacci lines are marking important resistance/support levels.
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