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Not A Bullish Bone In My Body

Not A Bullish Bone In My Body

by The MoleSeptember 10, 2009

11:38am EDT: Last night some posters as well as one fellow blogger who shall remain unnamed accused me of having ‘turned bullish’ – let me assure you that nothing could be further from the truth. Especially when I see a chart like this:

Note the clearly degrading A/D ratio since September 4th – now, that doesn’t mean we can’t make new highs but this does tell me that we are on the final leg of this bear market rally.

So, unless I see a swing up on this chart today or tomorrow I’m going to hold my puts through the final ramp up – it’s time for the bears to make a stand.

Thus far my little ending diagonal (i.e. wedge) has remained intact – we are at an interesting inflection point here. Should we see the Dollar drop before a little pop then this scenario is out of the window and we’ll most likely push into 76 or below. Which of course would greatly benefit Soylent Blue in equities.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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