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Monday, July 4, 2011

This Week in Charts

Aside from normal charts, a quick reflection on my postings.
On night of 6-21-2011, I posted that I expected a Major Rally Ahead, perhaps into August.
I backed that comment up on 6-22-2011 that Greek Default Not Likely.
Followed by the market taking a nice downturn, against my rally theory, and I posted I refused to flip flop.
Since then, the market has been on quite a very fast tear straight up. I was so stunned by the upswing, being so quick, that I finally added some shorts Friday. Assuming we do get a pullback, I'll get out or set limits, for I still think the market will bounce around until August.

Basically, I don't expect market downturn in earnest until at EARLIEST August. Could be much later.

First chart shows what happened and how I reacted, then normal charts for your own review.

To the charts!!

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