this kind of pattern more likely to breakout on the upside.
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tinted area as text book target if breakout. let's wait and see.
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Sqwii wrote:uempel - markets broke down of neckline in an topping HS pattern on daily chart - quite normal sometimes in the future to backtest this trendline before we drop further.
Of course, that's what we learn. But at the moment I can hardly believe the market will shoot up to 1209. In 2008/2007 price came back to the neckline 6 months later...
curious what the bernak is gonna say today. FOMC mtg's are volatile to trade... from what i've read not many people are expecting anything new besides the "accommodative " language that's been there for quite some time. no new language == sell off? that's what i'm thinking. also, gold is off it's highs, maybe that's what is being priced in.
I don't have sentimenttader subscription. Since you are subscriber, what is their percetage of accurcy for next day market evaluation in your opinion?
Next day? I didn't pay enough attention.
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agnosia wrote:curious what the bernak is gonna say today. FOMC mtg's are volatile to trade... from what i've read not many people are expecting anything new besides the "accommodative " language that's been there for quite some time. no new language == sell off? that's what i'm thinking. also, gold is off it's highs, maybe that's what is being priced in.
He will say something, but I don't think he'll do anything in particular. He will be careful with his words. Remember there is still Jackson Hole on the 25th.
a little disappointed in bulls, cannot believe for the very first resistance it takes this long and still cannot overcome it.
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I guess everyone is waiting for the FOMC notes to release. In the meantime the markets remain in this sideways motion. Anyone else passing time and watched Barney Frank let one out? Can't believe he did it so aggressively.