Today's move really didn't tell us anything. It also doesn't look like a topping pattern so far. Topping patterns are strong reversals that take place after a high is reached. If we gapped up tomorrow morning, then immediately started to sell off, that would be a strong topping pattern. If the pull back is controlled and in small choppy moves, it makes it more likely that the market will move higher. This sell off would really need to take place starting tomorrow. If we have another day like today, my bet would be that we will break above the 1131 area.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment