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Sunday, August 13, 2006 11:53:39 PM
Update SLJB
If what midas is saying is true then it ties in with what I am seeing also.... more downside, even though it looks so tasty even now.
The MAs on the long chart match the short one posted below, and there is a compelling story in there, if only because the MA5 and 20 are flirting with each other now, and some MOMO indies are turning up. But, it's the MACD and slo' Sto (that indie tends to track Accumulation, succinctly) on the long chart that has me thinking downside... midas' post tends to confirm my suspicions.
Looking for a little bounce tomorrow A.M. notwithstanding, and that MOMO may carry through the better part of the day, even post 10:00 A.M.
The 62.8% retrace has been broken to the downside. MA50 at 0.04 beckons. If tomorrow doesn't develop a reversal that ends the day beyond 0.10, then I'll be expecting further drop as the PPS will still be within the interim descending channel.
I have gone out on a limb to describe a fantasy ascending channel. That will need to be confirmed, but it bases itself on an intercept of 0.04 on the downside, and a bounce there. We shall see, we shall see.
RRR/Support lines are included in the box, free of charge.
I'll keep watching to see how this develops. So much interest! So much hype. Either way, it will be a bit of a show.
If what midas is saying is true then it ties in with what I am seeing also.... more downside, even though it looks so tasty even now.
The MAs on the long chart match the short one posted below, and there is a compelling story in there, if only because the MA5 and 20 are flirting with each other now, and some MOMO indies are turning up. But, it's the MACD and slo' Sto (that indie tends to track Accumulation, succinctly) on the long chart that has me thinking downside... midas' post tends to confirm my suspicions.
Looking for a little bounce tomorrow A.M. notwithstanding, and that MOMO may carry through the better part of the day, even post 10:00 A.M.
The 62.8% retrace has been broken to the downside. MA50 at 0.04 beckons. If tomorrow doesn't develop a reversal that ends the day beyond 0.10, then I'll be expecting further drop as the PPS will still be within the interim descending channel.
I have gone out on a limb to describe a fantasy ascending channel. That will need to be confirmed, but it bases itself on an intercept of 0.04 on the downside, and a bounce there. We shall see, we shall see.
RRR/Support lines are included in the box, free of charge.
I'll keep watching to see how this develops. So much interest! So much hype. Either way, it will be a bit of a show.
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