All the averages look the same on 3C, it looks like there will be a short term pullback sometime in the first half of Wed. or a consolidation, but there's definitely a negative divergence there. On the longer time periods, there's conflicting evidence, most leans toward the bullish. I think this market may just go nuts to the upside if this bailout gets done this week.
Today may have been a deadcat bounce, but the longer term 3C charts don't seem to confirm that, at least not yet. So I'm going with the longer term accumulation, as in during the slide Monday, there were bargain hunters picking away at the carcass.
Tuesday, September 30, 2008
The Market and 3C
Posted by Brandt at 10:09 PM
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