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as a trader, i don't make forecasts.
however, i believe the market will resolve itself in one of two
scenarios:
1. false upside breakouts in the major indices, followed by a crash to
new lows 720-740 basis dec s&p, or,
2. a weak down move that will be heavily shorted, followed by an
accelerated upmove (short covering and new institutional buying) to
all time highs 1300+.
my bets are for scenario 2 since a majority of traders are looking for
scenario 1.
TJ
---Ron Augustine <RonAug@xxxxxxxxxxxxx> wrote:
I would be interested in hearing any other comments on this subject or
other perspectives on the current technical situation in the Market.
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