ajtj99's Market Pulse

[mjk]

Yes, but it's following a good pattern I've been using. Friday's break through the 50 day, up 2.1% on big(ger) volume, close above the upper bb was right on. If we get another big up day, like 1.8%, on Monday, I wouldn't be surprised...then tues would be a big gap and crap. Doesn't have to follow this closely, in general it's been on though. If it keeps following as close as it did on Friday I'd start to worry about just what the market's up to.

http://www.investorshub.com/boards/read_msg.asp?message_id=2635762

We didn't end up getting the 100 day again before the last fall, but we did get the nice low. And that scenario leads to a one month wonder rally...we'd probably only get several red days in the next few weeks and we'd definitely get a new high somewhere about 4-5% above the last high before a significant correction. The reason I mentioned a possible sideways period is because initially off the highs, that's what I was expecting after we got the lows...but the 2 month down phase looked much more like something that leads to a month long rally to new highs. For the consolidation/sideways phase to have happened, I would have expected a sharper few week sell off from the 2153 high to the 200 day, then we'd be stuck between the 200 day and the 2153 for months.