Come on Bulls, Follow Me!

Bull Rally Show No Signs of Slowdown

5D, 15m - May 5 - Inside day offered little trade opportunity.  Perhaps just a pause for another upward movement on Wednesday.
3M, Daily - May 5 - Channel remains Bullish.  The Trend is Our Friend!  MACD bullish.

"The Market is Trying Hard to Gain Traction"

2D, 5m. - Mar. 13 - Friday was a consolidation day (Gold Spot) required to absorb a solid week of market gain.  All price action remains above the 10D MA and the 4 Day Bull Potato is preserved going into the weekend.
5D, 30m. - Mar. 13 - Channel outlines the bullish move of the past week with two similar days of pause and consolidation.  The Bull Potato is well preserved with all action above the 10D MA.
20D, 60m. - Mar. 13 - Major Trend Reversal is seen with the Tangential Channels showing a new move to the upside.  The projection of the channel can function as a "Windsock" indicating where the market might go next week.  Of course changes in market direction may occur at any time.
3M, Daily - Mar. 13 - Longer Term Charts must always be kept in mind.  The change in direction is clear on this 3 Month chart and with each day there is greater crossover potential as the market moves in the upward direction.

"Battling Back- It is Just a Matter of Time"

Today we finally broke out of a protracted bear market that has been a slow bleed experience.  The Bulls should find encouragement.  Tomorrow will be interesting to see what kind of followthrough they have to support this move.
2D, 5m. - Mar. 10 - The most interesting thing today was the breakout above the Bear Channel that is now into its fourth week.  This was a clear break and signals a new Bull Potato.  When we started this series Potatoes last from 3-5 days up or down and that was consistent.  Recently we have experienced a protracted Bear Potato.  Perhaps we can resume the old pattern.  Notice the "anticipated symmetry" that helped with a late day successful trade.  This is a common intraday market behavior that can often be taken advantage of.  The "internals" need to cooperate and be on your side.

5D, 30m. - Mar. 10 - There was a clear breakout from the former Bear Channel (19 Day Bear Potato).  This move is "Central" to the Potato Trader theme of Moving Average Crossovers and Swing Potato Trading.  Intraday trades can be taken with more confidence if the underlying trend is appreciated.
10D, 60m. - Mar. 10 - New "Bull Potato" confirmed on Hourly chart.  There was a failure of this move about 10 days ago but that has been rare.  In general a new potato will prevail for several days or more.  There are no guarantees.
3M, Daily - Mar. 10 - The trend is obviously down but there was a "breakout" above the upper channel trend line.  The market remains below all major moving averages at this time.  More work needs to be done to establish credibility in this market.

Potato Peelings can be slippery.  Watch you step!

PT