Ian Woodward's Investing Blog

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The Bulls Win Round #1 at the OK Corral!

Bulls Win 

I am sure you all recall this Stake in the Ground that I planted in my blog note on August 27th.  The first round of the fight at the OK Corral goes to the Bulls.  These were the conditions for the Bulls to win, all of which have been met. 

The Bulls:

  1. 4-dma, 9-dma come up through the 17-dma; later 17-dma up through the 50-dma
  2. A Eureka Signal with a Follow through Day of 35 points up and 2 Billion Shares
  3. Directional Movement: Di+ above Di-
  4. The Nasdaq Index gets above the 50-dma at 2572 and then above 2616…the Upper BB  

The Requirements for the next round for the Bulls to continue to win are:

  1. Drive to the old high at 2725.  The Nasdaq is currently at 2666.
  2. Stay above the 50-dma on the downside which is at 2590. 

After a brief pause to refresh, the Nasdaq must drive above the old high for the new bull run to be fully underway.  The Line in the Sand is now at 2590 for Round #2.  Best Regards, Ian.

This entry was posted on Wednesday, September 19th, 2007 at 5:01 pm and is filed under Market Analysis. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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