Equity Markets: Technical Update (11-12-08)
Read the full article: http://weeklyta.blogspot.com/2008/11/todays-action_12.html#l...
We are dangerously close to testing the Oct lows, and I'm not kidding. It'll be tomorrow and I expect some sort of bounce here. There's too much support for a no-support slice through. I also expect considerable volatility as the bulls and bears fight for control on an important day. We should also see some increased volume levels. Tomorrow will mark the 4th time we test. I would like to remind you that for anything, a 3rd or 4th retest is usually a bad sign, a breakdown typically follows not to long afterward, but in the words of Hank, "let's not speculate"...
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