friday trading, page-28

I don't know why people are so down on Ben Bernanke. He's made me a lot of money, and I am sure, othere here too.

He's put liquidity into frozen markets.

He's pulled the SPX up from a diabolical 666 to 1299.

He's probably allowed millions of Americans to stay in their jobs.

No mean feat.

But back to the XJO....

Here is the bullish triangle Sir Andrew from Perth has often mentioned.

Patterns do not have to play out...and on my intraday charts recently they most certainly do not.

That aside....the XJO candle today spans the resistance line and the rising line... so a break next Monday one way of the other.

For the bearish case, it could be assumed the break has already happened---a false break, up, and the decline is underway.

Stochastic is by no means overbought, but was so last week. So again, bears would say the pullback is underway.

I don't know....

But today's massive selloff in the CBA, number 2 market leader, is disturbing, and the volume spike usually pre-empts a pullback.