Broken trendlines… broken hearts

Posted on Apr 10, 2012 by in Letters

The little runaway bull got corralled.  First, the breaking of the major trendline from 07 must be honored by a pullback (or a throwback, or a half back).  Second, we have a break of the 20 day moving average -- that alone will provoke selling among the short term trading lot.  Third, we have a number of trendline breaks.  Illustrated below.

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