Thursday, March 4, 2010

Bearish Rising Wedge?


There is a strong technical bearish divergence on the hourly chart right now in the indexes. The 15 min chart shows a mini head and shoulders top as well. The pattern may be a rising wedge as well which would bode poorly for the coming 3 weeks or so in stocks.

Anyway, I am holding on the open trades right now, waiting for a short-term oversold signal before making decisions.

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