Wednesday, April 1, 2009
One day wonder
Well, all that distribution finally lead to a price drop, but it didn't amount to much. Prices hesitated, and then started moving up again. All signs are bullish, except we're still waiting for a follow-through day. It's strange that we haven't seen one.
Notwithstanding, the Accumulation/Distribution indicator is a healthy 58% in the Nasdaq, which appears to be forming a handle section of another cup and handle base pattern. The cup began with the Climax High signal on 2/10, and bottomed out on 3/9. The handle began on 3/24, after prices made it back up from the low of the cup. See it gigastockpicks.com, the Symbol is 'NASDAQ'
It could be the real thing. We'll know better if it breaks out from here. We could get the follow-through action at that time. Meanwhile the leading stocks are still doing well.
Notwithstanding, the Accumulation/Distribution indicator is a healthy 58% in the Nasdaq, which appears to be forming a handle section of another cup and handle base pattern. The cup began with the Climax High signal on 2/10, and bottomed out on 3/9. The handle began on 3/24, after prices made it back up from the low of the cup. See it gigastockpicks.com, the Symbol is 'NASDAQ'
It could be the real thing. We'll know better if it breaks out from here. We could get the follow-through action at that time. Meanwhile the leading stocks are still doing well.
// posted by gigascanner @ 9:19 PM 
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