Will we breakthrough and above this resistance line that has been in place since last May or do we collapse?
We all like to look at the S&P and Nasdaq and such but I also like to see what the NYSE has to say as well.
So, will the 50 day MA finally push us through and above, any thoughts? I wish I could say I know but I will take a wait & see approach for now.
Hate sounding bearish as I still have hope to go higher but not liking what I see lately, this market needs to show some strength in order to prove this bull is still healthy and not tired, or worse ... over.
Last chart I posted I was hoping the market would complete a bullish gartley, it did not, instead it is now showing a possible bearish gartley. If we start ...
Which way do we break? Do we bounce back up into the cloud and hit 207 next week or do we stay under and fall to 200 area?
Gun to head I say down next week but I'm not betting, I'll observe for now and just sharing what I see.
The IWM basically traded sideways throughout 2014 and is now breaking out and will most likely lead the charge in 2015. Makes sense as small caps don't have the overseas exposure that large caps have, so I believe big money is currently rotating into this sector and why we're so choppy in the overall market..
CAMP a well run company reported positive earnings and after getting totally beat up, is now oversold and should rebound, or at minimum should start to trade higher. Supported by a Gartley CAMP looks set up nicely for a swing trade or can even be a good long term stock to own.
Hope others find this helpful, good luck, and any comments are welcome.