Wednesday, June 24, 2009

Keep the Big Picture in Focus

Neither Bull nor Bear has the Upper Hand at this Point.
30 Day. 2 Hour - June 24 - A new bear channel has not yet been violated. The immediate trend appears to be down.
3 Month, Daily - June 24 - Given the Channel seen above, any Play to the Long Side is Swimming Upstream.

Low Gear Downhill Channel Continues

A Great Time to Catch Some Fish.
30 Day, 2 Hour - June 23 - The Channel to the downside continues to mature. The trend is our friend. Ignore it at your peril.
3 Month, Daily - June 23 - In this market it is best to keep our eyes on the bigger picture. In any new market direction there will be bounces and corrections. The overall trend, however, tends to prevail and we need to stay on the right side of that action. Swimming upstream just adds risk to any trade. The Trend is Our Friend. Stick with Friends for Success.