Sunday, August 2, 2009

Sleeping Tiger in the Bushes?

"Patience is My Game."
Aug. 2 - 30 Year Treasuries indicate weaker Dollar. The Market has marched in tandem to this index in the past. Is it telling us something?
5 Day, 30 min - July 31 - New support following breakout last week. New Support. Price Action is Coiled like a spring within the Bollinger Bands. Dynamic Move Ahead?
30 D, 2 Hour - July 31 - 15 Day Bull Potato. This is the most extended bull potato in the history of this blog. Totally unprecedented. The market condition is very overbought and technically could benefit by a corrective pull back in order to move forward. The bulls don't seem to want a rest.
3 Month, Daily - July 31 - July was quite a run and most of it was in spite of what most would call bad news. The "market is the market". Trade what you see, not what you think.