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Bulls: She Is Rolling Down Since Yesterday: Why Are You Still In?
- Thread starter riskfreetrading
- Start date
There is absolutely no reason to think stocks will be going down to new lows any time soon. The technical part of the market has been moving up for weeks. The financials have been holding this market down while other stocks continue to get in better shape technically. Bullish% sitting at 45% and rising!!!!!
I'm usually bearish but I think a new sucker rally is forming to 12,700. I would prefer another run up before the bloodbath next week.
Quote from riskfreetrading:
I am always amazed to see people buying when market is rolling down. Bulls (those of today and of the last couple of trading sessions): who is going to save you when she rolls down and accelerates the rolling?
Feds have smashed bears into the wall, the momentum is such that even bad news do not work on the markets psychology. Do not count on shorting rallies, it make not work, there are more people with an upward bias than you and your ilk and your band of raving lunatics.
Quote from sumosam:
Again, we are no where near a triple top...we are looking at resistance. Triple tops occur at actual market tops...the djx is hardly at an all time top.
We continue to hold support. Time analysis states we are due for more up side. Price can only tell you so much.
Double and Triple Tops occur after a prolonged market rally. This sure is a comeback and not a time where prices have been climbing for a long time and market has exhausted itself.
Its called resistance on the way up. Learn to correctly recognize chart patterns in Technical Analysis and get rid of those puts.