PEM, yes i think i mentioned on Wednesday on day traders thread...

PEM, yes i think i mentioned on Wednesday on day traders thread to keep and eye out for it onbreak out above the 20


Alot of people kept asking me about the financials last week, and if you remember about 5 weeks ago i gave weekly targets which most hit and exceeded. Thought i would share the XFJ i use to work my bank moves out.
As you can see the index hasnt quite got to my target, but is meeting resistance right about now. This weeks high in the financials was on a time date and the next one is 16 June 09.
Its the same cycle pattern that has highlighted most highs and lows since the tops.
So from here we could go a bit higher but a few weeks rest/lower either supporting above or just below the 3700 and then the next move north we could continue to as high as the 4900 into the 16 June date :)))

In simple turns in about 2 weeks if the banks start running again, buy a couple :))) you might be pleasantly suprised if your not already.
Worst case , im wrong and you get stopped out