Friday, March 6, 2009

"End of the Day Rally Spurs Hope."

"Excuse me,  but may I butt in?"
2D, 5m. - Mar. 6 - Another day of decline with a symmetrical S-Curve, but this time interrupted by a late day rally that I am sure took out a lot of shorts.
5D, 30m. - Mar. 6 - End of day rally in Gold Spot came out of the blue.  The Bear Potato is challenged at the close, but the SPY still ended up in the Devil's Den.  
20D, 60m. - Mar 6 - Bear Potato Day 18.  A "Snap Back" is way overdue.
6M, Daily - Mar. 6 - Trend lines are drawn to highlight the major market moves.  This week has actually seen an acceleration in the rate of decline.  Today's end of session rally, while encouraging to bulls, was quite small in the larger context of the market.

"Don't Slip on the Peelings."