Review of last night's trades. PRICE continued to climb higher, after the PRIME PPF I mentioned last night. With the TREND Chart pointing down, coupled with a PRIME PPF, the only thing getting me out of the SHORT would be the failure to break through the last Oscillation Support low of 1432.25.
I have to remind myself sometimes that PRICE will ultimately tell us where the market is heading. Indicators are always lagging.
Leg 2 of the Back-Door Bull Break is still very much intact. Again, key level to pull us back into a Bull Trend is 1440.50 - PRICE must breach this level.
11:30pm 2 PRIME PPFs in a row, on the Trading Chart, and with the TREND Chart pointing down. Hmmm......
12:01am My charts are down. Have to start them up again. But looking at PRICE on my trading platform, it seems that we aren't heading anywhere at the moment.
Thursday, December 28, 2006
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