ETF SWING & DAY TRADING

[KovuLK]

All re: weekly defining moments


If you set up charts for three year/weekly, you can see some defining moments for any bullishness. This will be at the 50wk and lower weekly BB:
DOW 11000
NYA 7800
SPX 1250
COMPQ back at 2200
NDX back at 1630
MID 740
RUT 690
TRAN 4070
BKX 100

As you can see we are almost there except for TRAN. The two techies are over the line and I am definately bearish on them. These points may or may not fit well with a sloped line which is the bottom line of that "three year weekly rising wedge", but close enough. If da boyz are going to put up a defense it will be here. If they let it go then its look out below. Some of you may think its already that way. You have not seen anything yet with a break of these lines.

Some of you use monthly charts. The 'line' that corresponds to the above is the 20ma/mid-BB line, give or take a few percent points. So plan accordingly.

IMHO

Thanks
kovu