here come the bulls ehehehehe, page-83

re: here come the bears ehehehehe Banjine, you may very well be right in your call, I am by no means certain about this, I am really only hedging my views in the UK and AU markets.... short the FTSE and long the AU with very wide stops... if it works out I bag it both ways... if it dosn't, I should, in the end lose or even make a little.

But in answer to your post more specifically and answering it on your terms... the way I would read it is we have a strong brake from heavy consolidation, this is confirmed.

Friday formed a lot of upper resistance and during this day the market fell back to test the broken resistance which it did so very well.

This morning was a continuation of Fridays rally... and thus the market had rallied for 2 half days or 1 full day and was due for a pull back... this is what happened at the end of today and interestingly enough the pullback was only to the upper resistance created on Friday.

Thus why I see todays move as a consolidation, not a reversal.

If the market had been running up for 5 or 6 days strongly and did what it did today then it would be a reversal, but it hasn't been running up for a extended period of time.