04/26/12 – Formal Buy Signal © ™

MY CHARTS – Bookmark this link.

WHAT’S HAPPENING?

Today we broke through the prior highs of April 17th.  I am formalizing the buy signal, which was alluded to in yesterday’s update.

We could be forming one of those long wave channels where the rally keeps going with nothing more than 1-3 days of correction.

This rally is probably taking place because “THEY” know that the GDP numbers on Friday morning are going to be better than expected.  As usual the little guy will be the last to know.  If the GDP numbers are big, one of two things could happen on Friday:

  • We get a big rally in the morning followed by a correction
  • We get a big rally in the morning that is followed by a trend day (every hour is higher than the preceding hour).

The trend day will be a powerful signal that there is much more to come.

If the market accelerates, the upper channel lines in the charts below will be moved higher, contacting a prior peak or low.  It is actually too early to have good trend lines but these are the guess at the moment.

04-26-12 LARGE CAP INDEXES 15 MINUTE BARS

All Rights Reserved  © ™

Advertisements
Explore posts in the same categories: SELL - BUY, UPDATE

Leave A Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s


%d bloggers like this: