Archive for December, 2011
Autozone’s Weekly Chart Pattern
The pattern in weekly chart is a scarier pattern than the one on the daily chart, come and see what I am looking at!
S&P and the Momentum highs
The pattern finally seems to be completed. Now we will see how fast we can break down from this pattern.
DRYS Filling the Gap
The momentum is up so watch this equity fill the gap!
S&P and the Upper Trendline
The way to see if a pattern is working is by watching if the trendlines that were drawn hold the fluctuations of the price. If they do hold, then the pattern is correct and you probably want to respect it. This is telling you that the people with deep pockets are following this patern too!
Autozone’s Direction is still DOWN!
There are always leaders in the market! this time the one telling us the story happens to be Autozone. This equity can not get worse technicals…….well…..it probably can! The point is that the direction that the technicals are telling us is down. We can’t tell when the down draft is going to begin, but when it does look out!
All the Indecies in the same Pattern
When all the indecies in the U.S. Market are doing the same pattern, there is something to be concern about. This would be perfect for a trader because the markets are all coinciding with each other, it’s almost a textbook scenario.