If I read Daneric's take correctly, he's saying that wave 2 is done in $RUT, Nasdaq failed to make it's wave 2 area. Kenny is saying that wave 2 isn't finished; that we'll squiggle sideways or lower tomorrow then up more to finish.
The doji on SPY today and IWM suggest to me that we go down tomorrow. GDX put in a black reversal candle yesterday, then a red doji today … aw heck, I'll just make a chart. See other comment.
What makes you think we will rally?
I am outside right now howling!
Well, it's working! At least on me 🙂
Much better again Earl. Thank you!
There is a slight difference to me – down volume is stronger and the financials looked like they topped out in October.
Thanks for the chart, Nice work
Tony Caldero's blog
http://caldaroew.spaces.live.com/
He states that this correction looks “exactly like the june july correction”
Like it did in July we correct into March (bad ? employment figure)
I believer Strause “jaywiz” says a big down move March 8th
GDX is basically saying “short me, I'm going down”. It has printed a candle pattern that I wish I had noticed before the close.
http://www.screencast.com/users/dreadwin/folder…
Kenny's blog is here:
http://kennystechnicalanalysisblog.blogspot.com/
I read it every day.
If I read Daneric's take correctly, he's saying that wave 2 is done in $RUT, Nasdaq failed to make it's wave 2 area. Kenny is saying that wave 2 isn't finished; that we'll squiggle sideways or lower tomorrow then up more to finish.
The doji on SPY today and IWM suggest to me that we go down tomorrow. GDX put in a black reversal candle yesterday, then a red doji today … aw heck, I'll just make a chart. See other comment.
In addition the vix is forming a bearish wedge and you can see the previous time that occured. ie big drop in the s&P
http://stockcharts.com/def/servlet/Favorites.CS…