Wednesday, March 11, 2009

"Is This a New Trend or a Standoff"
2D, 5m. - Mar. 11- Gap up followed mostly by a trending day down.  There was then a breakout to the upside followed by a weak close.  This all follows a very strong market the previous day.  Tomorrow remains a mystery.  Technically the Bull Potato remains intact but confidence in its reliability is shaky.
5D, 15m. - Mar. 11 - Each day has a "channel" that outlines the "trend of the day."  These can be used to help with trade decisions.
10D, 60m. - Bull Potato Day Two (2).  The market remains above the 10 Day Moving Average preserving the continuity of the Bull Potato.
3M, Daily - Mar. 11 - The last couple of days has shown a "Change in Trend Direction."  The market did close above the 10D Moving Average.  In the past these changes in direction have prevailed for 3-5 days or more.  The prolonged recent decline has brought into question the validity of these prior observations.  It may take some time to sort out these new patterns.

1 comment:

Peter Ballenger said...
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