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POKERSAM

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Re: Torqputty post# 16857

Tuesday, 05/05/2009 11:10:18 PM

Tuesday, May 05, 2009 11:10:18 PM

Post# of 31925
Torqputty - All good stuff, sir.
In a bull move overbought can just become more overbought. You also mentioned the negative D on many indicators. Right on. It is telling. But not yet.
One thing I would be careful of is going short too quickly just because the bull support line is broken. That bull support line you have drawn is only for the 3rd wave of this advance. I believe the 4th wave will break that line slightly to about 860. Then the 5th wave will carry us to the top near 955 on a new bull support line.
So our thoughts concerning the top are very close.
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