Replies to post #76543 on ajtj99's Market Pulse

[Keith K]

LG,

You seem to be getting a little bearishly frisky. Do you think this is too simple - L/R channel containment off the 50ema?:

http://139.142.147.218/StockChart_ImageOnly.dll?cus=0&co=ask&i_chart=0&inm=5&ind=2&a...

As Burk inferred, until it's broken, it ain't broken, right?


DOW is in a similar state of affairs:

http://139.142.147.218/StockChart_ImageOnly.dll?cus=0&co=ask&i_chart=0&inm=5&ind=2&a...


I read your posts, but can't recall what you think is happening here.

Keith

[Burk]

Nobody thinks of themselves as a contrary indicator, LG.

Yep, it did break out, then pulled back..hovering at support...right now...probably next week we'll have another go up, I'd say...then we'll see if it creates another high....and pulls back only to resistance or if it doesn't create another high and drops through support...

Ain't that about right, LG? By the way, if you were referring to me saying it was a "parabolic move up", it wasn't me...

I've never used the word parabolic in my life...

;)

However,that said, 140 comp points up from the last bottom when a lot of folks...(I won't dig up any old posts) were proclaiming the world was caving in is a pretty good run, even if we do correct after this....agreed??