Friday, December 12, 2008

TK and his TA

I listen to TK pretty much daily to get his "view of the market."  His technical analysis (TA) is simple and straightforward, if not always correct.  Lately he is espousing a reverse head and shoulders pattern and calling for a "move to the upside."  Don't get me wrong, I have made some money using TK's TA, but I'm somewhat more skeptical of his latest interpretation.

Another bounce off support could fail and we may be looking at 7800 DJIA again.

1 comment:

Eric said...

the neckline was broken below like 8900, which invalidates the pattern. so I'd not worry about it unless it gets up there.