THAT BEAR FLAG THING
A bear flag?
It was the talk of the town last weekend. This weekend it will be something new, I'm sure.
The scenario drawn up in the chart review last weekend for what the market would do this week turned out to be fairly accurate. I was expecting a bigger penetration of the downside of the "bear flag thing". It seemed to have sucked in enough shorts, with or without the bear flag thing, to cause the substantial rally we experienced this week.
This is the S&P chart from weekend chart review on 9-11.
click chart to enlarge
SPY
