Sunday, February 08, 2009 11:42:35 PM
Most indexs I follow are showing a symmetrical back to November 08. The S&P500, DOW and Russell are half way to the upper trend line...SOX is at the line and SMH is sporting a break-out and a double top. The MACD common for All is at the top of chart with more room to grow (depending).
We could have a significant change in direction for the market coming this week. So this is the week to put your bias in the neutral position and prepare to change if necessary. My current bias is bearish and think the break will be to the Downside. Its difficult but I am prepared to change bias should the break be to the Upside.
We could have a significant change in direction for the market coming this week. So this is the week to put your bias in the neutral position and prepare to change if necessary. My current bias is bearish and think the break will be to the Downside. Its difficult but I am prepared to change bias should the break be to the Upside.
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