Wednesday, November 26, 2008


Doji day! Yes it was. Nothing really happened and the day was plastered with indecisiveness. If you tried to get in-and-out throughout the day, chances are that you didn't end up green. Typically, I would enter short positions at the end of the day, but today proved, once again, that the market likes to show its altered personality in the last half hour of trading. Thus, I remained in cash once again. Days like yesterday mark a 50/50 chance for a sharp movement in either direction, and it's usually a reversal. Many sectors look like they will reverse imminently, so be warned (Example: Solars).

SPX 1-day

SPX 3-day

SPX 10-day

SPX 6-month

Don't forget to try the Free Trend Analysis. It's FREE, so give it a shot!


Anonymous said...

John - I am seeing a cup with handle on the 10 day spx and a reverse head and shoulders on gld. Am I crazy?

John C. Lee said...

looks like it, but the patterns evolve with each passing day.

Anonymous said...

John - Are you doing your premium stock picking newsletter for December? I was going to sign up today and noticed the Pay Pal button is gone.
Thank you.

John C. Lee said...

Send me an email.