friday trading, page-68

Voltaire - I am a fan of Laundry and have followed his material for some time but he has changed his tune over the past few weeks. Previously he was far more bearish. That doesn't surprise me as it is fairly easy to see how he does his analysis. Just been a bit disappointed that he took so long to be a bit more optimistic.

On the commodity front, I know everything is very extended but there has been a continued cry for a reversal for weeks now but the market isn't listening. I included a chart of the CRB on the XJO thread this morning which shows that it has broken through to a new high. A bit overdone short term but the overall pattern looks pretty bullish to me. I think we might see different commodities having a turn. Gold looks to have made a bottom here so that could be the next cab off the ranks.

On another note - I have been looking at whether we should leave gaps on charts for weekends. I have drawn up a seven day chart of the All Ords and it is intersting to note that the Gann uptrend from the bottom comes through at exactly the same level as the bottom of the pitchfork. Something I am going to have to give some more thought to.

And another thing - I have started keeping the figures from the Stockcharts Predefined Scans page for the filled black candles and the hollow red candles. Last night the figures for the hollow red candles was the highest since I started collecting the figures - only going back to February when Stockcharts drew attention to it - but it might mean something. Chip Anderson from Stockcharts refers to hollow red candles as Sellers Remorse. So many interesting things happening......