Cobra's Market View Private Messaging System shows:
Symmetrical Triangle is formed, wait for the breakout.
|Trend||Momentum||Comments - Sample for using the trend table.|
|Long-term||Down||Idea for trading intermediate-term under primary down trend.|
Nothing to say today, the consolidation continues, the direction is unknown. From my experiences, a consolidation on the high end of an uptrend is more likely to result on the upside. But for me, even it eventually does breakout on the upside, I might not chase high here. Tomorrow, no idea, a little bit speculation here though: 06/10/2009 After Bell Quick Summary.
1.0.2 S&P 500 SPDRs (SPY 60 min), could be a Symmetrical Triangle in the forming, which according to Bulkowski, the chart pattern expert, has 54% chances of breakout on the upside. Well, 54% is no better than a random number, so still no clue about the direction...