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| nikoschopen 2,824 posts msg #60758 - Ignore nikoschopen modified |
3/25/2008 12:50:34 PM Needless to say, the next profit target lies near 1257-ish. The measured move from the earlier upleg of this current rally (1342 - 1352.75) would also suggest that this second upleg will run up to 1257 or so. |
| nikoschopen 2,824 posts msg #60759 - Ignore nikoschopen |
3/25/2008 1:06:55 PM Although it's premature to call for an outright reversal, bulls are obviously losing momentum as the lower channel is being retested, |
| nikoschopen 2,824 posts msg #60760 - Ignore nikoschopen |
3/25/2008 1:53:55 PM Once again, the bulls are reasserting themselves by rearing their ugly heads. The first tentative target is at 1360 and the second at 1365. I doubt we'll ever pass above 1365 for the day. |
| nikoschopen 2,824 posts msg #60761 - Ignore nikoschopen |
3/25/2008 2:18:57 PM The bulls need to charge above the rising wedge for this rally to stick.. |
| nikoschopen 2,824 posts msg #60762 - Ignore nikoschopen |
3/25/2008 2:21:53 PM Here's an early warning. The rising wedge is about to get shattered to the downside. |
| nikoschopen 2,824 posts msg #60763 - Ignore nikoschopen |
3/25/2008 2:33:47 PM Unless we break above the upper channel line (red), here's the game plan for this afternoon. |
| nikoschopen 2,824 posts msg #60764 - Ignore nikoschopen |
3/25/2008 3:18:36 PM It turns out that we have two channels to contend with. |
| nikoschopen 2,824 posts msg #60765 - Ignore nikoschopen |
3/25/2008 3:21:49 PM But notice how the price reverse as it touches the lower blue channel. We should technically retrace down to the lower red channel. If that ever breaks, there's nothing to hold the bears back and you can kiss this rally goodbye. |
| nikoschopen 2,824 posts msg #60778 - Ignore nikoschopen |
3/26/2008 1:26:59 PM I see a reversal to the upside. |
| nikoschopen 2,824 posts msg #60781 - Ignore nikoschopen |
3/26/2008 2:34:20 PM The emerging trend is obviously very weak after two dayt of strong rally and I have no doubt that it can also reverse very quickly. In the meantime, this is what I see will likely to happen. |
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