An educational blog which supplements subscriber service
Chart Patterns are nothing but Footprints of the Greenbacks.
Tuesday, May 26, 2009
Dip Buyers Win Again
Just when things could have gotten exciting on a break of SPY 88 -- dip buyers stepped in and thus far have won the day.
We wrote in our newsletter this weekend:
"Strategy for strong market: If we break minor resistance 90 convincingly we'll try some longs. Strategy for weak market: through 88 and we could be in for a trip to the 50 sma and we'll be looking short."