Monday, October 13, 2008

Le Resistance

SPY (10 yr)
Notice how the market 'bottomed' in 2002... same pattern appears for '33, '42, '87, etc. The likelihood of a v-bottom here is also highly unlikely so I will play the odds. To understand why this happens, go review market psychology of bottoms, support, resistance, etc. - long story short, there are very good fundamental reason for why and how these patterns are created.




SPY - looking for the underside of this channel to get kissed before heading lower




















BNI - trading range




















MON - gap fill - that was quick




















X - if you're looking for a follow through day, X has some room to run




















XLP - look for 26




















XLB - If XLB has the audacity to climb its sorry ass to 34....




















AAPL - low risk setup developing...




















COST - low risk setup has arrived.

No comments: