Weekly Bottom Fractal Confirmed — 3840 Points Becomes Mid-Term Key

2008/4/11 15:10:56

This week's back-and-forth ultimately did produce the weekly bottom fractal. The upper boundary of this fractal is at 3840 points, so whether this fractal ultimately proves valid—extending into an upward stroke—or ultimately fails as merely a continuation pattern, 3840 points becomes the critical position on the weekly level.

Today, the market oscillated below yesterday's 3533 points all day, showing the market is weak and confidence is lacking—probably pre-weekend psychological pressure. So early next week, it depends on whether this 60-minute level key position can be broken through. If not, it's another bottom test.

The corresponding position on the daily level is 3613 points. Therefore, 3533, 3613, 3840—these give us a code for market movement, allowing us to completely grasp ultra-short-term, short-term, and medium-term trends.

On individual stocks, sector rotation continues but momentum has somewhat weakened. Now, unless financials, real estate, and such start moving again, the market won't have any major action.

Over the weekend, step away from stocks quickly and rest well. Health comes first.

Signing off. Goodbye.