Thursday, January 10, 2013

Charts 01-10: Blow-off top, please

WFC reports before the open tomorrow.  Maybe they will announce that they have sold their entire California HELOC portfolio to the Fed at par, which will buoy the market with confidence for recovery and growth and the future.

So let's blow-off 28 handles tomorrow to reach 1500.  Monday can retrace a bit from there, giving us Tuesday for a final spike high to 1510 (and back down).

Tomorrow is a New Moon as well, suggesting that a top may be close, if you believe in that sort of thing.

The problem is, if we don't top soon, and we need to touch the top, per McHugh's Jaws of Death, then we're chasing an ascending trendline, and this could just go on and on.

So it sure would be nice to finish this up and bring on the bearish season.

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