Z wave penetrates trendline…


The stories here are pretty clear:  the zeta wave has rocketed across the trendline –a clear buy signal.  And bulging volume records changing ownership of shares — what many technicians would consider as stocks moving from weak to strong hands.  Whatever, it is in concert with the zeta wave.

We would be astounded if these events put paid to the bungee markets of the past six weeks — meaning there may well be thousand point down days right around the corner — or other unpleasant events.  One could adopt a very conservative attitude here and stand aloof until the recent high is taken out.  That would certainly deal with volatility: if you don’t have any capital in the market it can’t hurt you.  Except the pain of having missed profitable markets. Whatever — as always entry should be scaled in– which may be done  with more than usual confidence.

For what it’s worth the PnF system targets 3409 in a dramatic chart:

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