actio-et-reactio
Balance is but a brief transition between extremes.
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Monday, March 03, 2003
Comments, Monday 03 Mar 03
Today was one of those mystical days: 03-03-03, or if you like 3-3-3, likened by a few to 01/01/01 or 02/02/02. It was also the new moon and New Year on a few calendars. Well, it is half over and nothing of major import that I know of has served to mark it in my memory as a day holding more than usual interest.
The 15m chart reflects my on-going comments/annotations from the day session. Mixed signals with critical support in jeopardy (828 (60m) - 812.5 (Daily) in sight). The Flags-R-Us trade broke up in the AM only to quickly disappoint (ie, head fake!). As we said, 'Plenty of flag waving and little to show for it. This indecisive action isn't partic. bullish IMO, but that doesn't erase the ongoing potential for a sudden move higher, which given this climate, is likely to be sold anyway.'
The 'Triangle targets' on the 60m are experimental as it isn't a partic. 'clean' pattern IMO to measure, but they may be of use.
Of interest: There is a mild bullish bias if the Small Cap Value:Growth chart is a harbinger. The week has only just begun & a move back up is still possible. Wait for the market to confirm it so.
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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