Friday, June 12, 2009

No easy answer today

Today did not give us the clear confirmation that I was hoping for. Even the move off of the highs doesn't show a picture perfect impulsive on the 5 or 15 min chart. The only thing that looks encouraging is the move off of today's lows. It sports all the look of a bear flag zigzag with a=c almost to the point and sitting right on the 50% retracement fib. Once we break out it should be huge!! Needless to say I'm leaning on a downside breakout.

Have a great weekend!


  1. keep up the great work.. this is super stuff you do here..

  2. Hmmmm, that certainly looks odd, SPX - but I suppose that´s what it has been for a real long. Not offering any clear pattern. FX side have good and clear bear setups now for shortterm. Too many of them actually at the same time. It´s just been a bear party alone with eurodollar for so long allready.