First, on the bearish front:
The channel that has been in force since October 2011, which marked the largest correction since the 2008 bear market, is clearly broken. Neither money flow, nor momentum are showing the capacity to make new highs on this retest. In fact the retest is seemingly unable to even stay above the lower channel, making this a possible failed break, or a partial H&S pattern.
The channel that has been in force since October 2011, which marked the largest correction since the 2008 bear market, is clearly broken. Neither money flow, nor momentum are showing the capacity to make new highs on this retest. In fact the retest is seemingly unable to even stay above the lower channel, making this a possible failed break, or a partial H&S pattern.
In particular, you should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there's nothing more for you to do. - William Eckhardt