bear rally over

  1. 1,383 Posts.
    Along with the other technical traders here, Im wllling to say the rally is over and shortable.With virtually everyone saying we have seen the back of the bear after such a puny rally - you can bet it is back all right.

    XJO is making a rounding top - always a pain to trade, and is setting up a small head and shoulders which should take it down to 3460. BHP has made a Gartley reversal. Financials are still looking OK.

    I remain resolutely bearish and think we may see 2400 before this is over.

    It has been a great year - Im up about 20% on total capital since Nov, and 80% on the CMC account - and it's reassuring to see a consistent money making pattern rather than just a couple of winning trades.

    Unfortunately the upwards-trading bias of the big end of town means they keep making it harder and harder to trade the downside on any volume.

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