Bollinger Bands are an excellent trading tool and when longer-term bands come together (pinch) as they are now, it means a big move is coming soon. Not only is the Dow chart showing “the pinch” but it is replicated in most of the major averages.
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oh, but which way? 🙂
Ain’t that always the problem…
aren’t I clear? We will be testing the highs of the year…
Yah, I assumed that was your stance but since I am holding a bunch of TZA and just moved my 401k to 50% cash i was hoping otherwise.
Damn this market.
If we close this week above 1130 I will have to reverse course.
Oh well at least i bought the bottom a few weeks ago…i’ve got a 10% lead on the broad indexes at the moment…i can afford to sit out a couple percent to see if we break through overhead resistance. Nothing wagered, nothing gained….
We will be testing the lows of the year…
If they pinch and then prices surpass the upper bollinger band, does that still mean a retracement is still likely?
I will pinch Scott if those bands pinch me.
you brute!
Gold is gonna break to new highs, this go round….
no double top, so sorry 😉