hopefulone's - almost there - friday, page-64

Just when it looked safe to go back into the water....

The setup looked excellent for a US rally, but I should have prefaced my post with my usual disclaimer that I am sceptical of candle patterns.

For our own market, breaches of support in the majors, especially BHP having fallen through the 500 day sma which had propped up the price since 2009, was ominous.

BHP hasn't fallen outside the bollinger band this much since January 2008, which then saw a $10 rally over two weeks.

Not saying this has to repeat, but.....