The S&P 500 (ETF Proxy – AMEX:SPY) power has not waned as expected and the $207 area is being tested, and may test slightly higher before the top can for. I am watching for any confirmation in price of a top to put on a strategic short with multi week holding expectations.
Timken Roller Bearing (NYSE:TKR) is a stock which has formed a “low level base” as well as an inverse head and shoulders on its daily chart. Both these formations are forming within the context of rising power, so I would expect to see the price accelerate to the upside in the week to come.
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