Review of last night's trades. I did manage to resolve my charting software problems last night but by that time, it was already quite late, and the market was literally at a stand still...it was only at the last hour of trading that the action sped up. Of course by then, I was already in dream land.
Leg 2 of the Back-Door Bull Break ended at 1438.75 and we are currently in Leg 3. Key level to watch would be 1419.75, last PRIME Support level and end of Leg 1 of the Back-Door Bull Break. This level must give way (to give us a PRIME Lower Low), in order for the 3 Legs to be completed. And to reverse the BULL TREND, into a BEAR TREND.
Saturday, December 30, 2006
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