monday trading, page-25

Hardball

I reread your analysis a few times and not only can't fault it, I basically agree.

You mention resistance lines and do cover yourself by saying the market needs to maintain the break.

McLaren is big on "obvious" support/resistance being a first test and then a break through to get the suckers.

Since I first read him saying that a long time ago, I have found it is true more often than not.

The point being that false breaks are much more common than they used to be as markets try to thwart the increasingly technical approach to trading.

So far it appears most of the general view is that the bear market is ongoing which has allowed a good rally.

We now seems to approaching the mixed viewpoint.

When the headlines concur that the next bull market is taking off, then we can seriously worry, lol.