Friday, March 27, 2009

I can imagine a scenerio where the passing of G-20 hot air and the April 3rd Unemployment report will provide a nice environment for a impulsive type wave downwards as these bulls will get their 1st chance to look down from their lofty climb.
In the chart below I double the width of the rising channel which tends to be a nice symmetrical target once existing channel lines are broken. Also RSI is rolling over and should provide the push to get us there. I'll be looking to cover at that point and re-short just ahead of the Unemployment data.


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