I think we already broke out of the triangle and this is the pullback back to the broken trendline (down) which now acts as support. The volume over the past few weeks has been really weak, and now and a big volume day the price goes up. I'm seeing lots of positives here. Did anyone go long? I went long at 866 which was support from yesterday before it broke through. I almost got shaken out on the pullback that went to 854 but I hung in there. I expect a big rally tomorrow.
Are you buying in now hoping this goes up to the 9500 range or do you think this is the rally we've been waiting for and now it's time to wait for another leg down?
Dow 14,000 by 2009 the 'v' shaped recovery is real. the market discounts the bad news and rally in anticipation of increased economic growth. a temporary, one year, decline in profits can be mitigated bya projected multi-year increase in growth
What I meant was for a short term trade. Will it get to the 9500 range first before another leg down? Like in the next few days (if not hours!)
No, I am flat , I rarely trade in the afternoon, I was just thinking that there was some major anouncement or something. Thanks,