sierra's - spoiling the fun - wednesday, page-9

Good morning all. A strange market.

Last week I noticed CBA riding up the top bollinger to reclaim 61.8% fib of the last range, ANZ and BHP poking through the bollinger...

A dip looked inevidable.

Some majors like ANZ, JBH have very tight bollingers indicating a big move is about to happen. Could be either way.

BHP is overbought, and uncharacteristically riding the top bollinger up---in red candles. That is, it gaps up each day and then closes lower. I can't trade that because I don't short.

So the market is a little confused and confusing, and once again rallies are short-lived.