Message Font: Serif | Sans-Serif
No. of Recommendations: 1
So what's the last 2 days retracement really mean then?

Note yesterday afternoon the 30 min BB midline was broken:$COMPQ,uu[l,a]faolyymy[d20010101,20011223][pd100,2.5][vc60][iUb14]

And today the oversold condition on the 5 minute chart was ignored:$COMPQ,uu[l,a]iaclyymy[d20010101,20011223][pd100,2.5][vc60][iUb14]

Also today, the 1st oversold condition on the 10 min chart was ignored; but NOT the 2nd (at around 11am):$COMPQ,uu[l,a]haclyymy[d20010101,20011223][pd100,2.5][vc60][iUb14]

An intraday 'W' bottom formation was seen and we recovered in the afternoon.

Look back to the 5 min chart again and you'll see - of significance - that at the close the midline was crossed again! Go the Bull!!

And look at the Hourly:$COMPQ,uu[w,a]eaclyymy[pd100,2.5!d200,2.5][vc60][iUb14]

We bounced when near the midline, which may signal a continuation of the bullish trend.

Finally, look at the bigger picture of the Daily:$COMPQ,uu[w,a]daclyymy[d19990101,20011201][pd100,2.5][vc60][iUb14]

At this point in time the charts seem to reflect that today's selling is merely some healthy retracement before a continuation of the rally.


Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.