Tuesday, March 17, 2009

"What Kind of Bull Do We Have Here?"
2D, 15m. - Mar. 17th. - The lowest levels of the "Windsock" (Trend Channel) was challenged and held.  From there we had an intraday rally with two significant pull backs that offered buying opportunities which were supported by strong internals.  The upward trend line within the "Windsock" is shown.  The market action moved up through all moving averages on this chart.  The MACD turned positive early in the session.
5D, 30m. - Mar. 17th. - The market moved along within the Windsock and formed a nice "Rounded Bottom" which is recognized by many as a bullish sign.  The price has moved back into the center of the Windsock as compared to yesterday when the price was near  the trend bottom.
10D, 60m. - Mar. 17th. - Yesterday the Bull Potato was seriously threatened with extinction.  Today it recovered with Bullish enthusiasm closing above all Moving Averages.  This becomes Bull Potato Day 6.
3M, Daily - Mar. 17th. - The Bullish Trend to the upside beats off a Bear Attack and survives to fight another day.  Notice the Positive MACD and the upward trending CCI.  The momentum and trend lines remain Bullish.