I could still be a BEAR after all.
check this out
The market will have to open and close above the upper bearish trend line to break its downward trend.
At the moment the market is in a “bearish rally”
If and when the market comes out of the bearish rally that will signal a “bearish rally breakout” or a SHORT signal.
If this happens expect the market to fall to the 7000.
I am man enough to admit when I am wrong and I’m not the business for making any excuses for it.
Im a BEAR again.
But after all said and done. The market is still very close at breaking the downward trend and there is still the bullish trend within the bearish trend which is a very bullish sign. The DOW only needs to open and close above the upper trend line to break the bear market. If this happens I will be a BULL again, and then there will be no turning back. So my original analysis wasn’t really that bad. It was only because of Tuesday’s down day that the downward trend lines where able to be moved slightly.
So now C (Citigroup Inc) is in a “Bearish Rally”. If it opens and closes outside of this it will creat a “Bullish Rally Breakout” a SHORT signal. If there is a SHORT signal expect this stock to fall to $4
Follow the market first and then the stock will follow.
