Thursday, August 12, 2010

2nd verse same as the first?

Here's the 1-min, I saw this developing and watched to see if it broke resistance, it didn't, it went lower and formed a bigger positive divergence
1/3 5 min charts-this one is showing accumulation here as well. It appears there will be something similar to yesterday-that positive divergence we saw, I already mentioned the star/doji reversal patterns I've seen today, so it looks like they want to take this market higher. Like I have said, I do not vie this at all as a problem, look at 1929 again and the 7% gap up after the initial break, with the rest of that week in rally mode-then came the 40% sell-off. 

This is typical Wall Street manipulation. Just understand it for what it is.






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