Sunday, May 27, 2012

Double Nested W 1-2 ?

The market didn't do much on Friday but it didn't make a lower low either and in turn it left another W1-2 nest within a W1-2 nest for double nested bullish count. If this count is correct, we should gap up Tuesday morning significantly or rally hard from the start of the day. The market actually closed over the TA again for the second day in a row but since the TA is sloping down, we can't confirm a change of trend until it starts turning up. Another close above the TA, especially in a strong bullish day would change the trend to the positive side.

Hope everyone is having a good Memorial Day Weekend!

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