17. October 2009 20:56
I hope you enjoyed my Rubik Cube video. If you missed it, just click here to get it.
Amazingly this market has kept creeping upwards, though there is a key resistance point around 1120 on the S&P. This has been another bullish week in the markets, punctuated by the OVI turning up.
Regarding the quality of flags out there, July was a smooth month albeit one that was predominantly a reversal, while August and September both saw the markets rise, but with very steep retracements which is rather unhelpful to all manner of trading styles. This is why I’ve been recommending an ultra conservative first profit target as there were more false breakouts than we’re used to.
I hope to have the OVI (for the S&P) available very soon so you can look at it every day. Sophisticated technology is always challenging and we’re analyzing a lot of data to get this done as well as a host of other improvements that are also on the way. Thank you for your patience.
Again, if you haven’t seen the Rubik Cube video, take a look at it here!
All the best and have a nice weekend.