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Watch out Below; Approaching March, 2008 Low

Posted on June 26, 2008

I don't usually post during the day but I couldn't resist because of the action, so far. Take a look at the chart:I'll walk you through the highlights:The Suckers' Rally Zone: mentioned that several times here (April 22, May 7, June 6) became a reality. The index failed to convincingly cross above the 180-day moving average in mid-May clearly signaling that the hoped-for rally was failing.Horizontal Channel Boundaries: Most other blogs or media talking heads have a very short-term perspective so you won't see this in very many other places but I've continued to monitor this benchmark channel...

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short term