Draytrader4

Draytrader4

All 4 stages of the accumulation stage appear to be meet. 1) Downtrend 2) Range Develops after downtrend 3) 50MA starts to flatten 4) Price Whip saws back and forth on 50MA Looks like accumulation. I'm bullish short term. Breaking the downtrend line appears to be the last step, if it can manage that should see price increase.

Draytrader4

All 4 stages of the accumulation stage appear to be meet. 1) Downtrend 2) Range Develops after downtrend 3) 50MA starts to flatten 4) Price Whip saws back and forth on 50MA Looks like accumulation. I'm bullish short term. Breaking the downtrend line appears to be the last step, if it can manage that should see price increase.

Draytrader4 Updated 

Watch out for this potential Inverse Head and Shoulders which looks on track so far with the neckline break to the upside today. If the market continues to push up with decent volume the target of the Head and Shoulders would take us back to all time high levels around 2950. With lots of TA bearish could we be moving up?? If the neckline isn't able to hold...