Looks like Igor pushed it two ticks too far...have you checked out an 8R chart for the wedges forming? Wyckoff would call this a spring and it is getting ready to break out one way or the other...because of the steep angle these past two months, I am guessing it will pullback and then who knows what. Depending on which top you use, I am seeing this wedge cross as early as 2143 and as late as 2173. It will have to break prior to hitting these crossings, so we may have our break as early as today or early next week.
I agree...my bias is of course South...I just spent a week out interviewing ALOT of independent business owners that have been in my town forever, and they are all hurting like never before..I consider them the point element of the economy, and they all say it's really really bad out there. With the market screaming up, unemployment high...it's all smoke and mirrors for elections or whatever. Of course the rules of musical chairs is that you keep moving until the music stops.
Looks like Igor pushed it two ticks too far...have you checked out an 8R chart for the wedges forming? Wyckoff would call this a spring and it is getting ready to break out one way or the other...because of the steep angle these past two months, I am guessing it will pullback and then who knows what. Depending on which top you use, I am seeing this wedge cross as early as 2143 and as late as 2173. It will have to break prior to hitting these crossings, so we may have our break as early as today or early next week.
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I agree...my bias is of course South...I just spent a week out interviewing ALOT of independent business owners that have been in my town forever, and they are all hurting like never before..I consider them the point element of the economy, and they all say it's really really bad out there. With the market screaming up, unemployment high...it's all smoke and mirrors for elections or whatever. Of course the rules of musical chairs is that you keep moving until the music stops.
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