May 25th, 2010

As I pointed out on May 6th, 2010, that intraday 1000- drop low on DJI was not the low, and this goal is reached today.

Day low today is a fresh new yearly low of 2010, more lower lows will be printed on chart from here on.

8:20 pm


- Intradaty Real Time Post.

DJI Update

OK, Just as I pointed out on May 7th, line H will be revisited and eventually close below it! and now, we are here again, so, today line H penetrated again, if you call the first penetration on May 7th was an accident and machine error, then, what you call it today? another computer problem? hoho... of course not!

The red circle on the chart is the zone I given out "short SPY" signal on my member access zone.

Daily candle here is a LL.LH red follow thru doji, this is a continuation pattern, weather it can be read as a reversal doji is TBD.

Bottom fishing on long side here is NOT recommended, but, lock profits on your existing short/put positions is a smart move to take some gains off the table....

Happy Trading!

DJI Update

Well, there is a reason why I have line H on chart, now, line H is penetrated, so, it is no longer a support, this means: one day, you will see it trading below line H. When? no idea, how low? That is on weekly chart....

It will spend a few days to complete a bear flag, then, test the low from yesterday, eventually, we will see a close below 9869!

Well, you've been warned!

For tonight:

"Sell, and close your long positions asap, on any bounces!"

Alert: day high on indices could be another lower high on that channel, I am moving some stock funds into bond fund on 401k account before mkt close today.

12:25 pm


- Intradaty Real Time Post.