swing high wednesday, page-7

Wink - if you are around - I went back and had another look at our postings from yesterday morning. I have been looking at the big sideways pattern as a base for a number of weeks now but am fully aware that I do not have confirmation. It can still break down but go and have a look at the US bonds - AGG, $TNX, $TYX, TBT - any number of them. They all look pretty much the same. Looks to me like rates could pop up a bit over there and if that happened then I think the money might run back into stocks - well some of it anyway. Got the downturn I was looking for last night - just now need to hold my nerve again to buy when prices come back a bit more. I was thinking 1070/1075 on the S&P but we should hopefully get some signals of a low.

One of my charts here that is particularly interesting is the A/D of industrials. I always split them as I think the hundreds of little bitty miners cause a distortion. Have a perfect head and shoudlers bottom forming - sorry hand drawn.