Tomorrow’s Action: Look For An Early Reversal Attempt On Further Weakness
August 8, 2008 1:06 AM
Looking at many charts, we will likely get an attempt to reverse early weakness. XLF is likely to try and hold $19.75, GE $27.76, etc. Therefore, I believe we will like see a reversal attempt if we see early weakness tomorrow. I will post what I see tomorrow at the open. If we do not clear today’s low first, it will make it far more difficult, as has been the case for a long time.
I am not saying we will get one, not saying we won’t. I am saying be on the look out for it. If we gap down after FNM’s earnings (or severe lack thereof) watch the early gap reaction.
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