actio-et-reactio
Balance is but a brief transition between extremes.
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Wednesday, June 04, 2003
Quick update
Been visiting Tampa, Florida for the past week. It was a warm and sunny treat from the much cooler NW). The neighborhoods were so diverse, it defies a single handle, much like trading styles.
And on to the market. I did think it would be too much to expect a full back-kiss of the lower trendline, but that is indeed what happened. Not only that, but price managed to wash past the 984 waterline, putting 1000 in view (or 1000-1009 as on the weekly and monthly charts) . See updated daily chart in May 20th post below.
The questions remain
(1) How much of a rebound -- rebound, what rebound?
Still in the energizer bunnie zone until it stops. There is a new lower trendline (lime green now at 937 that will act as support on a pullback.
(2)how much repair is needed... a moot point for now. Still believe it is a complex topping rather base for a Super Bull.
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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