Monday, March 30, 2009

"Solutions in Retreat"
2D, 15m. - Mar. 30th. - Gap down followed by gradual decline.  Take note of the Double Bottom near 2:30 PM.  This was a clear signal for a bounce.
10 Day, Hourly - Mar. 30th. - "Potato Peelings" has been devoted toward trying to make a science out of market cycle behavior.  The Hourly 10/30 MA has clearly been violated.  Potato theory would call for a continued movement to the downside.  We have on rare occasions been proven wrong but it is still more often true.  So, the Potato Trader takes a position at this moment to project that the market will go down.

3M. Daily - Mar. 30th. - "V" formation for Victory but we are approaching Resisatance at the next level.  The Drop today was significant and tomorrows reaction to that will be interesting.  Our suggestion is "don't be too sure" until the market shows it hand.