Ian Woodward's Investing BlogGunfight at the OK Corral Coming Soon
The Stage is set for the Gunfight at the OK Corral
The Combatants: Bulls and Bears:
The Site: The Nasdaq with lines drawn at 2572 for the Bulls and 2387 for the Bears
Early Signs of Who’s Winning:
The Bulls:
- 4-dma, 9-dma come up through the 17-dma; later 17-dma up through the 50-dma
- A Eureka Signal with a Follow through Day of 35 points up and 2 Billion Shares
- Directional Movement: Di+ above Di-
- The Nasdaq Index gets above the 50-dma at 2572 and then above 2616…the Upper BB
The Bears:
- The Nasdaq breaks down through the 200-dma at ~2500
- The Nasdaq goes down below the Lower BB, i.e., 2460, and %B goes Negative
- The Nasdaq breaks the previous low at 2387
- The Nasdaq drops over 16% from the High…down to 2290
Best Regards, Ian.
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