Tuesday, July 08, 2008

Many ways to scan a cat...

When different traders come to the the same conclusion using different methods - it might well deserve some attention.
My friend Brandt from TRADE GUILD just posted The Case For a Bounce with multiple charts based on his very own 3c indicator. Silly me - looking at the charts while vacationing - I'd like to reinforce his point of view using "my indicators".
I think SPY, DIA, XLF are about to bounce and since IWM and QQQQ only show "bounce signals" on a daily chart - I believe that "bounce" will be attributed mostly to financials.
Just to prove the point I'm posting charts of inverse ETFs as well ( as Brandt did ) and as you probably figured out already, since those are inverse - and red bars are sell signals - for "regular ETFs" that implies BUY-BUY-BUY