- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
- This blog has a copy of all header posts that I publish anywhere, so that those interested in seeing what my thoughts are on the markets can find them easily.
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Wednesday 9 February 2011

Dip Still Looks Close

I'm running late today so just a quick post with updated charts from yesterday. The ES triangle I posted yesterday broke down overnight:
The short term rising wedge on NQ retested the broken trendline yesterday:
Copper hasn't dropped much yet and may be forming a larger H&S than I was thinking yesterday, but it has also established a gentle declining channel since the start of the week:
I thought I should add the silver chart as well today, where it is in a decent rising channel and looks ready to retest the recent highs:
Equities still look ready for a decent dip to me. I know there's POMO practically every day at the moment, but even in a time of JBTFD, we do still get dips, and one is looking imminent here unless we're going to see a major resistance break.
Posted by Springheel Jack at 08:58
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