Thursday, July 17, 2008

$64,000 question, what happens on the 21'st?



There was quit a bit of overlap of many math nodes on the 21st, which is Monday. I thought that would be a bottom, but since the market rallied before we hit that time target, I'm wondering if that date could be a top...One thing that doesn't make sense with that idea is that many breadth indicators are at levels associated with major lows, so another down leg from here seems difficult unless the breadth indicators go beyond ordinary "oversold" readings. So the .500 node is still technically 2 trading days ahead, on the 21st. So what will happen there? We'll find out soon...

1 comment:

lagscrew said...

today Friday my stuff looking ripe