Bearish Scenario: We break-down through this up-trend line and then possibly test the lows of last year.
Bullish Scenario: We break-down, and then reverse higher setting up a strong bear trap.
In either scenario, we break-down first.
Wednesday, February 04, 2009
Bear Flag
It would be very surprising for this flag not to break sometime soon. Watch financials to lead the way with XLF through 8.87 and then 8.07.
Bearish Scenario: We break-down through this up-trend line and then possibly test the lows of last year.
Bullish Scenario: We break-down, and then reverse higher setting up a strong bear trap.
In either scenario, we break-down first.
Bearish Scenario: We break-down through this up-trend line and then possibly test the lows of last year.
Bullish Scenario: We break-down, and then reverse higher setting up a strong bear trap.
In either scenario, we break-down first.
