Pay Attention Little Ones 10/8/2010

Pay attention little ones. Here-in is an aesthetic analysis of the BHP chart.

Have a look at the action today. A big black candle underneath a big white candle.

The big black candle breaks below the uptrend line.

That is an ugly picture.

Do you undestand the word "ugly". Ugly is not a nice word. It is a four letter word - and four letter words are UGLY.

And this picture is UGLY.

But, little ones, it could be "uglier". Do you know how it could be "uglier"?

Well let me spell it out for you, just in case you don't know.

The MACD could cross below its signal line. That would be very ugly.

The RSI could drop below 50. That would be very ugly.

And W%R could be down at -100. That would be very ugly.

So - we do have an "ugly" picture. But it could get a lot "uglier".

Keep watching - only if you want to see a very ugly picture, coz that's what I think we're going to see. :)

Cheers

Red