Friday, April 30, 2010
Almost perfect weekly close we broke below the uptrending support and gathered a Head & Shoulder formation. Producing plenty of sell signals with a test of the trendchannel and or 200 day MA around 1850 a minimum target. As I wrote 2 days ago sell any kind of strength as we will likely see on Monday again a brief rally with ISEE below 100 and a bailout Greece bull-shiting rally initially. The Astro pattern worked perfectely as the end of the Uranus /Saturn opposition week is followed by a decline the next weeks. Sentiments are in perfectly setup for a decline as well and we even have the sell in May psychology working in favor. Also very important is that AAPL the major driver of the NDX has topped out at 275 with a monthly 13 count.
Posted by getagrip at 3:15 PM