I am seeing a bunch of similar chart setups which leads me to believe we are eventually headed lower. The PPT hybrid score is approaching 3.0 again which also leads me to believe the bear is on its way.
Sirona Dental Systems, Inc. [[SIRO]] is a good example of what I am seeing throughout the market.
Notice the slice through the 50 day from Thursday, then consolidation the past few days right under the 50, setting up a nice bear flag. On further weakness, charts like this will fall into murderholes.
One trader said it best over the weekend (can’t remember who said it): Bull market are forgiving, Bear markets are not.
Trade accordingly.
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VG breaking out.
Don’t tell anyone the Bear is coming…they need to buy some false breakouts first
will be adding to my TZA very soon.
now you’re talking…I just might have to load up myself
I think that was traderstewie…
RC – Do you have a target yet?
I’m right here. You’re all gonnna get HOOOOOKED
I don’t know about a bear but it would be nice if something was coming other than ‘fuck you, you’re broke’ swings
Get them while they’re hot: http://twitpic.com/1n2k6z
and – me stupid – I thought we were yet in bear mode
ts