EWZuber
1,373 posts
msg #57538
- Ignore EWZuber |
12/4/2007 2:20:41 PM
Waiting for COMP and NVDA to test the bottom of a Double Top pattern as resistance. Will make a second attempt there.
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nikoschopen
2,824 posts
msg #57539
- Ignore nikoschopen |
12/4/2007 2:22:48 PM
Short SPY@ 146.85
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EWZuber
1,373 posts
msg #57540
- Ignore EWZuber |
12/4/2007 2:29:49 PM
nikoschopen, Plug in 10, 15, 25 & 50 HR.MAs and you will see that the first three have already been confirmed as resistance and these MAs are in downtrends.
If this hours candlestick closes below 1465 it is a guarantee,IMO, that it will drop to test its 50 HR.MA at 1456.
I'm guessing that you are thinking that resistance will be re-tested??
Daily Chart is in a distribution phase and the 25 DMA is in the process of being confirmed as resistance.
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nikoschopen
2,824 posts
msg #57541
- Ignore nikoschopen |
12/4/2007 2:51:35 PM
Quite true.
I should also note that if the next 5-minute candle or bar closes down, we should have it our way.
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EWZuber
1,373 posts
msg #57542
- Ignore EWZuber |
12/4/2007 3:01:50 PM
Short NVDA 31.80
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EWZuber
1,373 posts
msg #57543
- Ignore EWZuber |
12/4/2007 3:20:22 PM
Covered NVDA 31.71.
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EWZuber
1,373 posts
msg #57544
- Ignore EWZuber |
12/4/2007 3:23:11 PM
COMP 5 minute chart is refusing to break pattern support and that is ST bullish. Will wait to see what happens next.
What I really didn't like is that the COMP Hourly Chart closed below MA resistance BUTa tad above pattern support.
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EWZuber
1,373 posts
msg #57545
- Ignore EWZuber |
12/4/2007 3:27:03 PM
Dang! Closed it a bit too early.
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nikoschopen
2,824 posts
msg #57546
- Ignore nikoschopen |
12/4/2007 3:34:05 PM
Out at breakeven. :(
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nikoschopen
2,824 posts
msg #57548
- Ignore nikoschopen |
12/4/2007 3:39:26 PM
This is one frigging effed up bipolar market. We might be rangebound until next Tuesday when the FOMC meeting takes place.
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