Tuesday, October 21, 2008

Ohh yeah .... we starting to act normally again

Impressive, we are slowly starting to trade with sense again. Opened in the 948-952 range, hit the first high at 970, hit the low at 940 (off by 3 points) and went to retest the 970 with a final break to close right at the 984 (off by a point). This is what we need here.

After our monday last week we did some attempt to retest the lows and created a fairly wide penant formation which is a fairly bullish sign. We broke the trend line late afternoon in trading and need to ensure to stay above this point today.

Time and Price

984-985 - I would like to see at least a test of this number today.
970 - as you could see yesterday this turned out to be a fairly important point now. This needs to hold today or we will head back to the lower side.

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