I DC: It is quite possible if we don't get something on Monday; however I think we have put in a temporary bottom on the S&P (I've been using the 45DMA on LLEN). In that respect it looks good, but the action today on this stock was disappointing and if we have follow through I am concerned it will be to the downside.
The treasury chart shows a bowl on the 2 year which would indicate a pullback (handle) before rising again...the next few weeks look really rough for stocks from that perspective.
FINVIZ (LLEN) shows two possible scenarios; one is the wedge pattern through which the price has already begun to rise (If my calculations are close to being correct it would mean a rise to about $4.95); and then support line around that $3.56 level. So which is it? I think it will depend on news or not the first of the week.
The VIX and the 10 year are kind of in a similar chart that LLEN had before it took off....long term low price patterns which are now busted and they are on a tear.
I would really like to hear from you, DC. How are you reading the tea leaves?
Thanks, Sharpei (Sorry the post is a bit disjointed.)