Friday, February 16, 2007

Consolidation at a Top

Was in no position to trade last night. I was so tired that I took a short nap, woke up, washed up, and went straight to bed for the night. Anyway, with the Chinese New Year Holidays next week, it's good to take a break (after all, the US is also having its break on Monday too).
Coming back, nothing has really changed, in the sense that we still need to head down to challenge Support, in PRIME, on the TREND Chart, to give us Leg 2 of Bear Break. A Minor PPF occurred going into the close and with the TREND Chart pointing down, I would prefer to see a PRIME PPF of Resistance to give us a decent confirm top, in order for PRICE to head back down to give us a Higher PRIME Support. Let's see if the market gives us that PRIME PPF of Resistance tonight...

12:35pm
Just stepped in half an hour ago, after a night out with the family...
12:36pm Looking for a possible LONG here, if we get a PRIME PPF of Support (1454.50)
12:44pm PRIME PPF. Looking for a PF to go LONG.
12:58pm Really slow & boring. Scrap that LONG!

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