daytrade diaries... february 1 part 2, page-115

pj, Clive certainly does paint a pretty grim picture in his analysis. He uses the words "must reverse to the upside immediately to avert risk of precipituos decline" in basically all of his statements on that link. Sometimes markets overshoot as the bears just get weaker and the shorters just get greedier, sooner or later (just a little bit more) when everyone thinks GFC 2 is upon us the markets will mysteriously track upwards and just keep going leaving many at the station (except the big money). This will happen this week imo even on bad news etc. Imo TA plays a massive part in global markets and the more people ignore it the more they will get burnt. The traders on the floor in the futures pits in Chigago have been calling 1060 as a healthy correction for weeks. SPX is currently 1073. Thanks for the links they were a good read as always cheers.