that is fraud, you stole that image from tim knight. he just posted it today. you could not come up with legit chart on your own. http://slopeofhope.com/2008/10/crash_setup.htm
Despite all the carnage, 10/10, 10/16 & today show RISING lows. This is bullish. All three days had long shadows below on a candle chart, indicating closing well off the daily lows.
No its not. I saw it before him and there are posts on ET to prove it. His charts look better then mine though so I used his instead. I can also link it easily enough from his site. You can easily right click on it and see where it came from so you can clearly see the origin of the chart.
Aren't you the guy who was going to leave this board if the S&P went below 1262? You are giving market advice? I admit I know very little - nobody here will get "stock picks" from me
I am not a technical guru, nor i follow it much, but i always thought that higher lows on decreasing volume in a down move is bullish, no?
I was watching this triangle for a while. you can see it on the DOW as well. Whats interesting is that the S&P closed ABOVE 900. This is a major level. Also the volume has been going down as the indexes wedge out. If there was huge volume ont he breakout to the downside and we didn't close higher I would agree that this is bearish, but until there is a convincing move on volume one way or another I don't think anyone can say squat