Hmmm ... new thread and continuum as previously negative bais from double-top at 13100 ...
All the reasons as previously prevail with continued weakness despite all and sundry jawboning a positive spin for the right reasons ... we don't want to scare the horses !!! We have been following DOW constituent GM as bellweather of US economy ... up $0.23 after having crashed to $12.63 at open from a high of $43.52 last October.
Our Fib study has confirmed as technically failure at Fib(61.8%) usually means a 'cliff' and guess what ??? ... the low 11635 could be retested ... as a double-bottom could see a support level and sure some PPT action ???
Second chart shows that price had broken the long running trendline and has been below the 200 EMA since Bush entered the White House ... we were not surprised.
Cheers ... tight stops.
This is only my view ... read the black stuff.
will the ppt kill our short ...
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