Last week saw the start of a retracement which has followed a strong market performance.
It remains to be seen how severe this retracement may turn out to be. The OVI has dipped into negative territory on the S&P and DOW but only minorly and it’s early days relatively speaking.
For a chart that’s had something for everyone, check out INTC, which I’ve been mentioning more recently. For a start it formed a railroad track reversal pattern on May 19th and since then the OVI has gone through the roof, we had bull flag patterns on June 5th and 11th-12th, and finally the stock gapped up on Friday. The signs for a good INTC move have been evident for a while.
