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Stock Market Pullback Off Lows Pattern Forecasted Today’s Sell Off

Stock-Markets / Stock Markets 2010 Jul 16, 2010 - 01:16 PM GMT

By: David_Grandey

Stock-Markets

When you look at the following charts, it’s really pretty simple. Downtrend channel resistance is resistance.


In downtrending markets, it’s all about shorting stocks that are in clearly defined downtrends.

See those pink line breaks to the downside? They were all you needed to know. They are also commonly referred to as bearish Pullbacks Off Lows (POL) patterns.

We call each of these rally attempts Pullback Off Lows pattern. We draw a pink line connecting the lows of each rally attempt. A break below the pink line represents a new short-sell trade.

As a result, we initiated new short-sell positions today.

By David Grandey

www.allabouttrends.net

To learn more, sign up for our free newsletter and receive our free report -- "How To Outperform 90% Of Wall Street With Just $500 A Week."

David Grandey is the founder of All About Trends, an email newsletter service revealing stocks in ideal set-ups offering potential significant short-term gains. A successful canslim-based stock market investor for the past 10 years, he has worked for Meriwest Credit Union Silicon Valley Bank, helping to establish brand awareness and credibility through feature editorial coverage in leading national and local news media.

© 2010 Copyright  David Grandey- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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