I spent a lot of time this weekend (looked at over 6,000 charts in a little under an hour--53 minutes) scanning charts and have to say I see more "green" charts than I have since the March 2008 to June 2008 bear market rally. There appears to be MUCH BETTER looking stock patterns now than there was then, also. Back in March 2008, a lot of stocks were clearly topping and only making short-term bear market low-volume rallies back to resistance. There were very few winners then and very few "nice to hot" charts. DGLY and PDO were the only two that set up and did not fail. The key tell the market was over, to me, was when ACM setup in that beautiful pattern and started a very heavy volume move in June which end very quickly when in five days the stock closed below the key averages and the low of the purchase date. That was clearly a very negative situation to see occur for that stock. When stocks setup in strong bases like that, especially when they are new issues, and then fail, you know things are not going to go well. This rally has a lot of stocks with stocks making nice bases full of strong BOP and volume action. These stocks are showing up AFTER the market put in a huge decline, thus increasing our odds that if a successful setup resolves its way higher if and when they breakout from those patterns. Once again, I am going to keep it short as I have already given subscribers a TON OF INFORMATION this weekend with five videos for them to watch since Friday. Subscribers you are completely up-to-date and ready to battle this war for your capital. Great luck everyone! Aloha!
Free YouTube Video:
No comments:
Post a Comment