Oct 24, 2010

Weekly review / Седмичен преглед

The wedge was broken and thought we will see back test and the correction... I was wrong.
DJ made new highs and the wedge was broken only a new channel to be formed. I was smart enough and I was not caught on the short side when I saw this two hammers at support:)
The long term picture has not changed. I think next week DJ will stay at this levels. We will see up and down moves and a new high.
The market breadth indicators look awful. So I expect a correction sooner than later, and I would not bet on the long side except day trading.

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