Could Today Be the Day for a Selling Climax?

Discussion in 'Trading' started by DataCruncher, Jan 22, 2009.

  1. seems like the floor of the market could fall out at any minute......will we get the final flushout that we need?
  2. Illum


    They continue to try and defend this 810-815. Once that fails there is a ton of air. Massive head and shoulders going back years. And everyone who has been fighting it will be hurt bad, so there will be some puking. I can see them fightin for a few more days, trying in vain to make a killing to 900 again, certainly not weeks.
  3. i think we bounced. dow 100 points off lows
  4. Bonpara


    Could it be? yes
    Dose anyone know? No

    Trade what you see not what you think.
  5. axehawk


    We'd have to break 750 before we begin the flush-out.
  6. Looks like we got another 45 degree rally that began over an hour ago. Those tend to last for the entire day as we're seen yesterday and last friday as people get squeezed out on the way up. GL everyone.
  7. yup..up we go..end green?
  8. The market is set on going green. The reason? Who the heck knows.
  9. If we break 740, it's headed down.

    I don't have too much data on my chart, what's the next bracket low beyond 740?
  10. The prevailing pattern has been that a 45 degree rebound that occurs at most 3.5 hours before the close that lasts for over 30 minutes tends to carry over for the entire day. This is due to tight tops at the 8000 support level by short sellers. As shorts cover it drives the price higher as funds squeeze them out.
    #10     Jan 22, 2009