Friday, April 9, 2010

Bearish Divergences $NYAD and $NYHL -> Bull Trap Set Up

Think of the NYHL as representing military officers and $NYAD as representing the soldiers. The officers usually lead the soldiers. Here we see the officers and soldiers started to retreat in late March. Starting in April, it looks like they are trying to mount a weak rally while still looking like they are planning to retreat. This is looking like a typical wave 5 that is running out of steam. 

No comments:

Post a Comment