If you weren't looking at a 3-5 day chart, then you missed some key support and resistance points for today. I have to admit, days like today are the most difficult to trade. Essentially the market can't make up its mind due to the uncertainty of this bailout package. It's dragging...and dragging...and dragging on. Markets hate this.
The key factor I was looking for today is if the market was making higher lows, and it did not. Therefore, a short-term bottom was not in place as of today. Tomorrow may be a different story. If you see a cupping pattern form, that may be a short-term reversal to the upside. Any breaks at the major support level above means we're going down hard.
2 comments:
Hi,
Your site is one of my favorites seen around blog explosion. Keep up the good work.
I enjoy reading your blog. It is great to find someone who can find the fun things in life!
I wish you all the best in all years. Please take a look at my websites and increase your page rank, traffic as well. I look forward to developing a friendship and networking with you. Let me know if there is something I can do to assist you with your business free ( http://www.ClickAdvertisingFree.com )
With Regards,
Karoly Domonyi
http://www.AddWebsiteFree.com
http://www.ariestrade.com
Thank you, I appreciate it greatly.
Post a Comment