Date: Mon, 20 May 2013 00:32:08 +0200
- SpikeTrade.com Blog
Pavlov's Dog cont....
This is a follow up comment to my previous post. As you can see from the chart posted above, this right angled expanding triangle pattern is completing to the upside. If it tracks the example chart to the left, the market has plenty of room to run. With so many shorts yet to cover and sideline money to deploy, It wouldn't surprise me at all to see this market sprint up further, with very shallow "breathing." If you are looking for pull backs they could be minimal at best, in light of the fact that all of the EMAs have turned up and a golden cross (20-day/50- day EMA) occurring. Barring a European dagger in the heart, this market wants to climb to higher ground.