Have to look at the whole picture...world economy receding...we will too.
If you look at the Ford chart it is a classic formation...once a failure of the pull back being tested happens after a big run up as in April 99 you can expect it to test the lows...look for a test near the Oct 09 low to see if it holds there...look on the weekly chart...should have several short swings once it reaches that area...
Spike |