Wednesday, January 5, 2011

Rising Wedge

The market pulled back in after hours trading and slightly during the day but I don't think that was part of the C I was looking for. So I am still looking for the 1250 area to get tested. Also, the market has formed a Rising Wedge (a bearish pattern) that should break sooner than later. But as long as the market keeps respecting the levels I've been posting (which rise a few points every day) then the rally remains intact. Almost every single pullback has bounced off at this level or within a few points of this level. I posted the targets for January to we'll see which one will be reached first.

In addition, I am planning to change the look of the blog soon and possibly add videos to the site.

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