Friday, February 5, 2010

Another little bounce...



There could be another bounce here, as the support trendlines have been 'just barely' exceeded, with Stochastics turning up...

2 comments:

Anonymous said...

Hi Mark,

What is your take on today's rally?
It was on very high volume. Do you think it is a temporary rally before we resume to the downside?

mlytle said...

Hi Anonymous,

Yes, I think it is a temporary rally, although it could produce as much as a 50% retracement from the January highs...

Regards,
Mark L.