JASO is positioned in the bottom portion of its channel, both on the daily (left) and hourly (right) graphs. It has broken out of a pennant and now appears heading for a higher channel position. The upside potential is indeed delightful.
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07/28/09; 16:25: Would appear the market is going into a correction for the last two weeks of upward movement. Illustrates the reason for stop losses, and will shortly provide a better entry. The correction should run for approximately one week. Today was the breakdown of the channels, with a retest this afternoon.
Hi Ran.
ReplyDeleteThink about picking up some TYP here.
Tech is the most vulnerable sector now.
Shorts the $RITEC index.
http://stockcharts.com/c-sc/sc?s=$RITEC&p=D&yr=0&mn=8&dy=0&i=t08770695329&r=7942
Ron
Hello Ron,
ReplyDeleteThanks for the pointer. Techs seemed rather strong today since TYH was up, TYP down, as was QLD up, QID down. However, TYP has some symptoms o bottom, so may carry the week.
I think this week a correction of the last couple weeks upward movement, with the bullish movement resuming next week.
I invite you to continue this discussion via email. You will find that link under my profile. I look forward to hearing from you.
Ran