Wednesday, August 15, 2007

Bear TREND but Counter-TREND Trades are still Possible.

09:56pm Definitely a short squeeze...15 points in just 15 minutes!
10:29pm Watch for a potential breach of last PRIME Resistance of 1451.25, on the TREND Chart. If this happens, it will give us Leg 1 of Bear Break.
12:32am New PRIME Resistance at 1446.75 on the TREND Chart.
12:51am With a PRIME PPF of Support on the TRADING Chart (and with the TREND Chart pointing up), PRICE action is confirming the bottom at 1430.25. PRICE is now heading back up to challenge last PRIME Resistance at 1446.75. Breaching it would mean Leg 1 of Back Door Bear Break. Of course, if PRICE starts to fail & instead breaches last PRIME Support at 1431.50 on the TRADING Chart, then all the above is invalidated...
That's all for me tonight...

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