I will add more comentary to this later tonight if I have time. This thing could go either way, up or down big in the next few days, but its going to move. Theres been alot of talk lately about triangles in the Q's, S&P and Dow and I just wanted to throw my weight behind that IWM triangle because thats the index that leads. Most atre expecting a downwards breakout of this trangle which targets about 7,000 on the dow, 700 on the S&P and 400 on the RUT. This isn't a bad expectation because the prevailing trend is down. But the overwhelming bearishness out there and panic leads me to think the real move will be up. But you have to be careful and go with the flow.
No comments:
Post a Comment