if we get some serious tankage this afternoon i am going to take a 50% position long in my retirement account....i would love to see em park it right at the 50% fib line....play the quick bounce and out....screw you gloomy buTT....i can talk shit on gloomy for now....he took a trip to oregon....i saw him pack a night stick and some knuckles....somebody is gonna take a thumpin!
i haven't updated these for a while...i was wanting a 50% fib retrace for an entry a week ago...looking back and adjusting the daily chart fibs shows that we did in fact get a 50% retrace....crap...another missed opp....oh well...all that matters is what's next....my hat is off to da again...he entered long and made some coin...congrats da
i don't have a good feel for the dow right now.....the 1 min and hourly charts appear useless for now so i'm going to leave them out of this post.
daily chart... macd...%r...full sto...are hinting at some upside...however the rsi did not go nearly low enough to make me think that a bottom was reached....and that last candle of indecision doesn't help the bullish case....a cross of rsi 50 would make me a bull....i don't feel like that is gonna happen.
weekly chart the last candle topped out right at the downtrend line from the oct high.....the rsi is below 50 like on the daily chart...last weeks rally was on lower volume....plenty of room below the momo indicators (%r and full sto)...macd histo heading lower....all make me think that the rally is toast. i am watching for a move to the 62% fib on the daily chart at ~12,280 for the next bounce....again...i don't have much faith in this TA
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