The bullish evidence accumulates. At this point, a long trade is low risk. (Hard to believe, I know!)
click chart to enlarge
Enough Already
November 21st, 2008 at 2:10pm · 2 Comments
The 60 minute cycle-trap indicator bottomed two days ago and now has diverged nicely from price. Divergences in the raw tick data and RSI have occurred as well on the 60 minute time frame. Price has reached the bottom channels at the 60, 135 and daily time frames.
Tags: General Market Commentary · S&P 500
2 responses so far ↓
1 Aronny // Nov 21, 2008 at 2:36 pm
This time yesterday (2:30 PM) is when the bottom opened up and the sell off started.
2 blinblin // Nov 21, 2008 at 3:29 pm
I agree. We may have to wait until options expire before we can rally next week. The rally could be spectacular.
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