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Tuesday, March 27, 2012

Dome and Chimney

My "dome and chimney" pattern as envisioned in my dream played out.  Unfortunately, the dome is much smaller than I had hoped.  I should have known it given the proximity to the 20 day EMA and end of quarter window dressing.

The rectangle target at 142 may have been met by today's HOD at 141.83.  This level was also observed as 123.60 Fib extension on the 60 minute chart with MACD declining.  VXX and TVIX showed some sign of life.  Hopefully, a short term top is in -- as long as someone put a duct tap over Bernanke's mouth.

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