I still smell a rally to the upside.
looks like the market is waiting for the congress to make a decision on the bail out
Notice how were declining into the expected cycle top time zone given earlier today? Its cause i cant tell whether to use the 9:20 or 9:35 bar on the 5 min. chart for a low! AT any rate, as i always say, the technicals and avg. have to rule and 5 min.IS only half way to oversold. Conclusion? Perhaps some kind of retest (and likely failure) of the high then mor consolidation lower.Lets face it we shot from 1188- 1216 very quickly and need to digest it for a while.
Basically right, Tek. I am planning on covering all that on thi weekends market analysis thread.
Bruce, when u look at ib and extentions , do u use 30 min. bar or 60 min?
Sounds good, Cool! Learning a lot from you and others here.
Selling 1213-14 area if it happens in the next few min.Risky, but ill exit quick
WOW WHERE DID THAT COME FROM?had my order in to sell(one only) at mov. avg plus 5 ...1213.50.now short one
stop above the high... 1217.00 looking for a quick exit
"It" came from GE's Immelt being interviewed on CNBC and saying the 5%dividend was rock hard and that they had no reinsurance exposure and their non financial businesses were doing well
sorry, i meant mov. avg. plus 10 of course on the 11:24 post. darn, stopped out at 1217 3.5 handle loss... up 2 handles on the day
Half out at 93 +19 on those...SL on rest at 1210, next target is 1174.