Thursday, April 16, 2009

Wedge zoomed in

I prefer to try to focus on the most bullish "leading" index, when looking for a trade-able swing "top" look to lean short heavy on.

same when looking for a trade-able swing bottom to look to lean long heavy on, I like to look at the weakest index.

(just to me gives me more feel and confidence that entire thing is less likely to be a fake out, and more likely to a real-deal)

So to update the "leader" ie the NASDAQ, the wedge has became so close to the corner here, I'm actually going to use a 60 min chart here.

My opinion since Monday hasn't changed, as the chart pattern has not either. (even tho the NASDAQ has been flat since then, actually up 4pts i believe)

I feel pretty darn confident the NASDAQ is going lower here for the next couple weeks.

How are those Hedge Plays of the week doing so far? :oP
-when the week is over, the play is over


  1. What seems so obvious might not be that obvious: this (slightly crazy) market might decide to break out on the upside...

  2. it might....

    nothing is a no brainer

    shall see

    this is what stops are for. (placed right above wedge corner, etc)