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In addition to plethora of “shooting stars” printed on Wednesday, which I discussed last evening, 12631 member and long-time reader “Yogi and Boo Boo” points out the bearish island reversal on the SPY today too. Note the gaps on either side of yesterday’s shooting star candle, leaving that candle on the proverbial “bearish island.”
Now, I do not want to extrapolate too much from this other than short-term caution. Reason being, I believe a fair amount of charts have made considerable progress over the past week or so, and an orderly pullback would go a long way to firming up those charts even further. However, anticipating a bullish higher low is often a tricky proposition and is likely one of the easiest ways to permit your bias to destroy your capital. Thus, I am still left with being in a position of open-mindedness above all else.
The bears have a good opportunity here, and they are off to a solid start today. If this market is truly going to change character and break up and out of this range, the bulls had better stop these textbook bearish patterns in their tracks soon.
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Now how can I possibly focus on content here?
Push yourself to the limit.
That was a helluva zygote…
Indeud… talk about maximizing genetic potential.
The won’t get any better than that until the perfect cloning.
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Really Hawaii…Where are those girls? Are they for hire? LOL
holy mother of god
Man, the Doublemint Twin commercials have gotten a lot better than when I was a kid!
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I always thought “island tops” implied actual islands… you know, more than one or two candles?
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I know. But the when you compound it with the shooting star it’s enough to at least warrant caution. The shooting start was textbook, the island top is not.
I prefer your title/picture 8)
http://slopeofhope.com/2011/10/marooning-the-bulls-on-dickwad-island.html
LoL Tim’s writing is more geared toward the male anatomy.
oh my
Wow I left you speechless, of all people?
Chess….you always come up with some hot looking pussy. I like that!
Damn!
Those goilies are like…16. Just saying.
…max
Incorrect.
I was in the pool! I WAS IN THE POOL! …