2009-10-17 weekend analysis of bly, page-42

ok, sp has bounced nicely off the uptrend going back to May. this has also coincided with a break out of the red triangle. the bollinger bands had tightened up considerably last few sessions and something had to give. im glad it was up and not down. the stochastics have now crossed and momentum seems to be heading north. we have also had a high volume spike which adds support to the sp increase. would love to see another 100 million plus volume day tomorrow and the sp close above .32. Im still looking for the speed angle to repeat which should take the sp towards the .46 mark. 1st step we need to get through .32 and then .36. my concern atm is the state of the markets in general which may hold bly back. for me .30 needs to hold.