We Have Liftoff

Well the market broke out of the range it’s been stuck in for the last week or so. Volume was a little light but that’s probably just something to suck in more bears. :-) I got stopped out of my BOL short but my longs more than made up for that small loss. Here are several charts, starting with the S&P 500:

It looks like it and the other indices are set to keep walking up the upper Bollinger Bands.

Here’s PalmOne (PLMO), which I bought a few days ago (err, that should be ‘note how’ in the caption below) :

And SalesForce.com (CRM), which finally gave a decent entry point:

And finally another look at Google (GOOG):

Comments

  1. Posted by casey on November 12, 2004 at 3:23 am

    Nice rising three methods candlestick pattern on the S&P completed yesterday. Yet another reason to be bullish right now.

  2. Posted by Michael on November 12, 2004 at 7:20 am

    Casey,

    Good eye… I totally missed that pattern.