A great bearish pattern. A little overthrow today too. Dow has underperformed other indices on this bounce higher relative to the prior highs. Saw the same wedge on SPY and IWM but so far they've failed to result in any downside. If today closes with a big tail I'll get short DIA (via puts).
Tuesday, March 9, 2010
Dow Ascending Wedge
A great bearish pattern. A little overthrow today too. Dow has underperformed other indices on this bounce higher relative to the prior highs. Saw the same wedge on SPY and IWM but so far they've failed to result in any downside. If today closes with a big tail I'll get short DIA (via puts).
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment