Friday, August 28, 2009

August 28, 2009

Watch out for one of the 3 scenarios play out today.
1. Open higher in the morning, close the morning gap, close in the negative territory. This action could be the opposite of yesterday.
2. Open higher in the morning, close the morning gap, close where its open. The bears and bulls are still continue to fight.
3. Open higher in the morning, continue to go higher and form a white bar. It could signal a breakout from here.
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6 comments:

  1. MattAugust 28, 2009 at 9:19 AM

    "there are no pullbacks in a blow off top"

    .....what's your first name bro?

    ReplyDelete
  2. gcl106August 28, 2009 at 10:50 AM

    You might call me as gcl106.

    It seemed like the 3rd scenario would not play out. The first 2 scenario is still intact.

    ReplyDelete
  3. gcl106August 28, 2009 at 12:28 PM

    The last post that I posted yesterday stated that SPY will retest 102.70ish. It did just now. QQQQ is still hadn't touch 40.05 yet. QQQQ opened much higher today due to Intel news. If there was no Intel news, QQQQ will probably already retest 40.05ish.

    ReplyDelete
  4. gcl106August 28, 2009 at 2:33 PM

    If QQQQ ever reached 40.05 today or Monday, there is possibility that QQQQ will hit 39.80 again in a few days. That mean SPY will hit 102 area.

    ReplyDelete
  5. BASAugust 28, 2009 at 2:41 PM

    103.16 todays close?

    keep hovering around and over it and below it.

    ReplyDelete
  6. gcl106August 28, 2009 at 4:04 PM

    So who won today. The little bears did. I wondered what will the market does if there is no Intel news this morning. Hmmm. Have a great weekend.

    ReplyDelete

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