actio-et-reactio
Balance is but a brief transition between extremes.
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Thursday, April 11, 2002
Comments for Friday and Musings beyond
Do or die time (still!). Looking to make an short term low and then rebound. There is IMO a small chance of a gap up open, which if it happens, might well be sold. Either way, The 15m and 60m Andrews suggest a bit more down with a rebound imminent, be it tomorrow or Monday.
As to longer term, my generally bearish bias remains unchanged, although it is shaken daily with the volatility swings whose emotional content suggests a desire to go higher.
The weekly chart shows 11 of the past 14 weeks have been unrelentingly negative. The first quarter of 2001 had a similar pattern, 11 of 14 weeks negative, with the late March reversal heralding the much touted "Spring Rally".
Who knows, perhaps another in the works? This price area is a good one for a short consoliation and rally, which could work out to be "The Sell" into Autumn.
Labels: market-calls-dated
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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