Magic red Thursday again, very interesting. I found that as long as we have magic green Monday then there’ll be a magic red Thursday. Hence, logically, should be a reversal Friday tomorrow and then magic green Monday again and so on… We’ll see.
Anyway, good news is the Bearish Island Reversal became higher and higher, the market did make a little progress by inching higher.
The bad news is a Descending Triangle could be in the forming which has 64% chances of breaking on the downside, so there could be more downside tomorrow. Well, you may want to bet on the upside now because of RIMM ER. I don’t know as I mean to provide you with some info here so at least I should pretend to be objective. LOL