Tuesday, April 1, 2008

Hitting upper trendline, and overbought....




Also Bullish sentiment is hitting euphoric levels..remember there is a bullish bias in the first two days of a month, but that doesn't make this a bull market...

Truthfully, I would be happier if we were also at a major time node (see my tutorials) that would truly give a bearish reversal..but having both of the indexes, $NDX and $SPX hitting upper trendlines is a fairly good show-stopper...
at

2 comments:

  1. johnApril 1, 2008 at 10:42 AM

    Mark,

    thanx, I have a small short position and am getting hurt but I think I am correct. Time will tell.

    old john

    ReplyDelete
  2. mlytleApril 1, 2008 at 4:31 PM

    Hi John,
    Yes, it's a wild day..I'm holding on to a couple of shorts also..

    Regards,
    Mark L.

    ReplyDelete

Note: Only a member of this blog may post a comment.