Thursday, September 24, 2009

RUH ROH ???


I'm not saying watch out, but I dont like seeing what I think I'm seeing. Last weeks trend was a bad trend...this weeks also looks bad...at least at this point in time. What concerns me a little is the combination of two things....first, its looking like this weeks is shaping up to be an "inversion" to the downside in the midst of a bull trend. Secondly, if you look down below to the Price Projection post, you see that we have filled price projection #2 right now at 1,065 to 1,070. So, this could be something more than just a blip on the price chart......we would have some work to do to correct this trend which ends on monday.
In any event, my antennae are all the way up. ;)

Tuesday, September 22, 2009

Update


Just a midweek update. I've seen targets from 1,085 to 1,200 for this run. I'll pick a point about 1,115 ES before some sort of a correction which begins this coming monday.