The Citi weekly shows the basic effect of the Bollingerband - Citi snapped back in. The weekly count though only at an 11 and currently in week 9 - the message is we need to go down once again and make even new lows which is also the message of the price pattern. That is in an overall market expectation the same bias we need to go lower to complete a trough bu will take a bit more time than I expected but on the other hand makes completely sense as so many want the year end rally thats the low probability it might occur then. we have to follow closely as the BKX made the weekly 13 and gives a red alert for a low but that might still take some time to be accomplished.
Monday, November 24, 2008
Citigroup technical outlook
The Citi weekly shows the basic effect of the Bollingerband - Citi snapped back in. The weekly count though only at an 11 and currently in week 9 - the message is we need to go down once again and make even new lows which is also the message of the price pattern. That is in an overall market expectation the same bias we need to go lower to complete a trough bu will take a bit more time than I expected but on the other hand makes completely sense as so many want the year end rally thats the low probability it might occur then. we have to follow closely as the BKX made the weekly 13 and gives a red alert for a low but that might still take some time to be accomplished.
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