after studying the charts for hours today, i have reached the conclusion that i am on the wrong (long) side of these trades...the commodities and gold are set up to make a move north....not good news for the equity indecies....crap lol
these charts will probably give you a chuckle....pretty lame channels drawn in... :)...i think i need to take a break...hehehe
if you link back to the past charts, it was obvious that this fall in the equity markets was coming....everything was lined up....gold oil dollar bla bla bla....
i still can't believe i didn't put 2 and 2 together....those charts were spelling doom for the major equity indecies...as plain as the nose on my face....crap....
oh well....time to forget the screw up and try and figure out where they go from here.....
i have posted about the $nya50r a zillion times buTT for those that might be new to it....well...you simply use it as an oversold indicator....it measures the percentage of stocks in the nyse that are above thier 50 day moving average...when at the 20 mark, it means that 80% of all of the 2,000 stocks on the new york stock exchange are trading below that 50 ema....that is such an extreme that a significant bounce is due....in bull markets, just touching the 20 line is usually good enough for a nice trade.....however, in this bear market it seems that a dive under the 20 line is the smart way to play it....this post is officially "long winded" so i'll shut up now and you can see for yourself....
sym triangle breakdown is still in play with a target of 10125 buTT IDKS
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