Short Term Bottoms Made

Home / Market Comments / Short Term Bottoms Made
August 7, 2006

I think the indices just put in a short term bottom and are ready to follow the charts to the upside after tomorrow’s Fed report.

I was looking for trendline support to be tested on the NDX at 1490, but it got 1491 and that may have been enough.

I’ll be going long big end of day today. If the Fed day turns out to be a down day I will still hold for the typical reversal day following.


Tags list


Related Posts

Remember When We Were Down 13% Two Weeks Ago?
Market Comments
Me too.
Trade Your Plan Son
Leveraged Funds, Trades
It was 10 years ago when I met a man outside a tall building with a long beard. He had a fancy car, carried a briefcase, and was the owner of a Star...
Eddie Van Halen and the Stock Market
Leveraged ETFs, Leveraged Funds
I know the title of this post sounds like a children’s story that comes with a flask of Jim Beam and a prosthetic hip, but I have a point....
Sell Roshashana, Buy Yom Kippur
Market Comments, Stock Comments
An old article from The Street.com will give you the background on the market myth, “Sell Rosh Hashanah, Buy Yom Kippur.” Tonight is Rosh...