SSkim
Here's a update on the charts note I did a new template for the weekly to clean it up and tweeked the Fibs to a better Set...
Note daily chart has the overall Fib Set as well as a local set check the white Arrows for the in....its pretty tight 57/555 old resistance becomes surport
Friday was a given profit take 1. It was Friday..lol 2. It was outside the BB's for the 3rd day...3. Had Gapped Up...4. Dow has been on a good run and a lot would have had a gamble on it coming off...
After watching all the trades I'm under the impression that this may very well be a very Short Term Top volume was good and someone was prepared to soak up quite a few in 500/250k lots just not 1 or 2 lots either...hmmm
Put that together with The Very Bullish Weekly Chart Note the similarities to it big run 2008 MA's Macd Demma Stoch and Volumes but this time there is a Larger Weekly Price Increase on Equal Volumes that makes me tend to think that this Run could be even more Volatile...
So do we do a tad down come sideways and form a Pennant here on the Daily the Flagpole is big enough to put it into the 90/80's....
Or is it a bullish bounce up and on with it last chance cafe at this level....
Or has Pete just lost his marble's....LOL
I know I've been down this road before but the potential is there on the chart its just about timing....
Market conditions look much better this time..
Cheers Pete..
Daily Chart
Even though the Macd is looking High it has been much higher in the past to 0.070 twice its now @ 0.040
The Stoch has in the past if you note the white circles can hover around here for up to 3 weeks last big run it did 4..
The Demma may bounce off the 54 or could just keep going note short entry & exits can be very short..
Weekly Chart
Note the MA's about to Golden Cross...Macd Turns to a BUY SAME withe Stoch Demma Short & Entry CHECK THE WEEKLY VOLUME..
