Sunday, April 19, 2009

The Wedge, yet again.


Q: when will it break?
A: when it wants too

For early this week the line in the sand looks like 854-855 for the "could" find support here, if it does NOT...then the momentum has likely shifted for a little while (ie a few days or a few weeks?) to the down side.......if it does find support there, the wedge might likely live another day, so a bounce off that price "could" be very likely....(for those of us who went net short over the weekend, perhaps a good profit trimming area)

The nasdaq's looks like 1633-1635

1 comment:

  1. Watch retail - a lot of them are very overbought - SHLD at 62? TGT at 40? BBY at 40? GME 30+?

    As much I hate to say it some of the dept stores can rally a bit further based on ERI #s.