Tuesday, June 9, 2009

Bulls Don't Die Easily!

Conventional wisdom called for a pull back but the Bulls roared back.  It is not over 'til its over.
5D, 15 m. - June 8 - Gap down was followed by a late day rally and then a sell off.  For the last five sessions we have seen a sideways, range bound market.  A breakout from this range could well lead to more up or down.  Neither Bulls nor Bears have conceded defeat as yet.
30 D, 2 Hr. - June 8 - Longer term the Bulls still rule the Roost.  The Trend has not yet been changed from being Up.
3 M, Daily - June 8 - Range bound Bull Channel since Mid March.  No break in this pattern as yet.

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