Near Vertical Assent No Retracement.

Discussion in 'Technical Analysis' started by Roman Candle, Jul 15, 2009.

  1. Near vertical assent with no retracement. This is close to a 6.00% rise at 70 degrees with no retracement. That does not mean we will retrace but we may consolidate.
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  2. Why? We've moved 80 points down and have been consolidating here forever.
  3. News flash to Gnome . . .

    The SPY just traded 93.15 for another new high on the day today. 80 points down??? What kind of medication are you on?
  4. Jumpshot


    Steep vertical rises, my opinion, are due to short covering. Im looking to see what happens at 930 which we are approaching rapidly...

  5. Seems like if you close out at the cash close you miss half the run if you wait till morning to re enter.
  6. Seems like everyone is looking at that weekly inverse Head & Shoulder. Not one down tick today just grinding higher all day.

    There was a very tiny dip @ 9:30am cst but thats it. Guess it's best for now to sit tight long.
  7. You must not be getting REAL time quotes.

    There was a brief "dip" after the release fo the FOMC notes at 2PM Eastern, and we are having a "dip" now down off the highs at 3:11PM.