actio-et-reactio
Balance is but a brief transition between extremes.
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Monday, February 11, 2002
Here's a flyer...
Those who studied or played the EWJ AB=CD flyer might consider looking at this potential bearish reversal set up in the making. In this case, there is a pleasant symmetry in between the current rally and the one from Jan30-31.
The validity of this play will be confirmed or squashed when the rally completes the move to the upper 34-period Bollinger Band, which I suspect may be tomorrow. There could be some overshoot. A consolidation could spell more up. However, should it reverse, the lower target is 1692, of course not in one feel swoop.
Yes, a flyer indeed. BTW, a similar pattern in the DJ30 and SPX, but fractional (ie, not a full 100% leg).
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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