xjo - weekend charting and chat - 28 mar 2014, page-6

Huge comeback by the bears last night, thought I was a goner the way it opened but no we wore em down all night.

Down trend still intact.

I reckon we've put ourselves in a great position to make another assault on that 1850 line, crack that and were back to 1800 for minor support but more like 1750 imo.

I fancy our chance here, Price bounce nicely off that rounded top setting up on the daily and the daily CCI has got itself into the money making phase of a downdraft just need that big black candle to prove it, the one that cranks lower hard and all night with the selling relentless.

Imo this market is now very unstable, after 5 years of such a fantastic bull and a glorious 2013 there will be people with very big profits with one eye on the door and one eye on Yellen and she has not been very reassuring. Lets see those earnings numbers in the next couple of weeks or Putin turn up the heat or china have a another credit incident.

Let slip the dragon king, his time near I fear.

I see yotta calling for 11670 on the dow by may, in truth that would be a dragon king but thats also a 1987 scenario and I think you would need to stack another year like last year on before you could achieve that level of instability.