Here is this potential bearish ABCD looming over the market for some time already:
Unfortunately it can go much higher and still remain a Double Bottom ABCD, so the picture is rather unclear at the moment.
JI
jimkane
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Okay, now watch, just as yesterday right at the close, for the break down, double trap, and snap up and over. Get ready...
JI
jimkane
Rep: 3,058
Posts: 33,089
I guess the ultimate bear hasn't been bearish enough lately :-) This action since the big bearish ABCD has been nothing but, well, bearish. I thought the bulls would fight more, with more bounces, and bigger ones. So, for example, I'd think this would rush up off this 72 .447 area. With so many bulls and so much propaganda (look at how strong that CD leg was), and now they just give up? I don't see it. This needs a big bounce somewhere in here, and I can't imagine it hasn't started...
ER
EricD
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Posts: 692
i was thinking the bulls were trapped at that area..and they would flush it back down across the globex open to the 70-69 area but just watchign now as the easy money has been made.
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, unleash the rampers. I think that's it. Now up and over. Big trap now sprung, in my opinion.
JI
jimkane
Rep: 3,058
Posts: 33,089
KIG. Let's see how it handles all that 'unhandleable' congestion this time...




