I checked the PBW clean energy etf. It is exactly a 1/3 pullback from the cup. Either today is the pivot point or there isnt going to be one. The RUT has also pulled back almost exactly 1/3 from its cup mimicing the PBW. Either we get a breakout to the upside in the RUT and the PBW thus also helping breakout the solars or thats it. A breakout will send SOLF over 20 and JASO over 30.
I think I found our pivot! The Nasdaq just pivoted off of the middle bollinger and I went long on Solf at 13.6. I hope I am not wrong. This has been a wild ride and defied all of my calculations, all of them!!!
I hope you listened to me and purchased the solar basket. First Solar is going crazy in the afterhours section and taking the entire basket up. I didnt accurately time the entry point. The Russell 2000 turned down, WFR issued a scuzzy report and that had effected the sector, but it was a temporary event. All the legislation coming up, all the solar company earnings reports, its going to be fun profitable times in the solars. If you follow the PBW, then you know we are in "Stage 2" of the alternative energy boom. Q3/Q4 2006 was "Stage 1". Stage 3 is coming and that will be the time to dump and then short Stage 4. Then back to Stage 1.