Saturday, October 31, 2009
No bounce
Thursday's "bounce" attempt fizzled big-time. This was not entirely a surprise; the bounce was accompanied by a pulse in the number of stocks making Climax Lows, which would tend to confirm a Climax Low signal in one or more of the major indexes, except that there weren't any to confirm.
Meanwhile, the Climax High signals are working perfectly. Things have turned bearish in a big way. The reasons and the timing can't be determined by analyzing the news, or the economy, or by watching CNBC, but technical analysis of price and volume action clearly reveals what's going on. "You can observe a lot just by looking."
Meanwhile, the Climax High signals are working perfectly. Things have turned bearish in a big way. The reasons and the timing can't be determined by analyzing the news, or the economy, or by watching CNBC, but technical analysis of price and volume action clearly reveals what's going on. "You can observe a lot just by looking."
// posted by gigascanner @ 8:10 AM 
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