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A Respite
October 8th, 2008 at 10:30am · 1 Comment
i think stocks are temporarily out of the woods here. Some of my internal volume measures seem to be turning around. The early sign of a turn upwards and huge divergence on the tick Cycle-Trap is shown on the chart here as well. I think we can bounce to 1050 for a first stop, and then let’s see how they look at that time.
1 response so far ↓
1 alexk // Oct 8, 2008 at 5:12 pm
What if … the indicators remain at extreme levels without producing any reasonable rebound for a bit longer? What if that rebound only comes once we touch 8k or even 7k on the Dow? Historical patterns do not seem to support this scenario, but then there is not much precedent to what is happening now. Methinks too many people have been on the lookout for a tradeable rebound – including myself, with predictable effect on my trading account.
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