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Philip Davis
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  • Phil's Chart of the Day 4 comments
    Jul 2, 2010 2:50 PM
    From Member Chat: 

    Phil -  July 2nd, 2010 at 2:43 pm |

    Today’s TA Chart:



    Disclosure: We do not think we are all going to die
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  •  
    Phil I read your posts every day, and know how sharp most of your calls are. Which is why I don't understand why I have to point out something this simple. The head and shoulders in your chart unlike the one, that was confirmed a couple of days ago doesn't actually pierce the neckline(and a failed head shoulders is almost always bullish). Like you Im guessing that next week will be up quite a bit but I seriously wouldn't trust the move up to last for more than a week and a half.
    2 Jul 2010, 04:00 PM Reply Like
  •  
    Aasmul, I don't agree with u, but will go with what Phil is suggesting, it depends on where u draw the Neckline, my neckline is at 1002 - 08, which was made around Sept 2009. Give it a +/-1 %. So we are on the Neck. So another up-move to the 1040 - 50 level should happen before we can see a descent correction. The Jury will be out next week on this. Cheers.
    3 Jul 2010, 05:44 AM Reply Like
  •  
    We're all going to die or have our Death Crosses (50 sma crossing from above to below 200 sma) whipsawn!

    The S&P 50 and 200 are so close on Yahoo charts that I can't separate them by observation:
    au.finance.yahoo.com/q...=^GSPC&t=3m&l=...

    Similarly on Stockcharts:
    stockcharts.com/h-sc/u...
    3 Jul 2010, 06:40 AM Reply Like
  •  
    We have just established lower lows, so now it is time in the coming week or so to establish lower highs.
    3 Jul 2010, 09:54 AM Reply Like
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