Monday, December 15, 2008

Potential big move up SPY


Looks like a very ugly bull flag. I dont like how it fell out of the channel last week but the diminishing volume looks promising.
Does seem like the market is waiting for some kind of news.

If the auto bailout occurs and a solid rate cut, we could see a very large move up in the markets.

But if the big move up doesnt happen within the next couple days, the upward pattern will probably fail.

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