Knocking at resistance - Part II
#1
Posted 03 April 2007 - 09:16 AM
Today
Consolidate around the resistance and make the assualt during the wee hours of the night.
#2
Posted 03 April 2007 - 09:38 AM
#3
Posted 03 April 2007 - 09:46 AM
Edited by NAV, 03 April 2007 - 09:47 AM.
#4
Posted 03 April 2007 - 09:54 AM
jjc,
Where did i say the move for the day is over ?
If you have been following my posts, i have been long since SPX 1416 and i am expecting a move to SPX 1460 level (not today). But today's move with that stellar intraday breadth numbers suggests the move is far from over. Today is a range expansion day and will most likely close at the top tick.
Of course, Sorry I miss-interpreted your words and didn't want anyone to miss the run.
I remember you do your work around the hourly and if it were not a range expansion day...
"Consolidate around the resistance and make the assualt during the wee hours of the night."
I was assuming you were saying we were at resistance. Silly me.
#5
Posted 03 April 2007 - 09:57 AM
jjc,
Where did i say the move for the day is over ?
If you have been following my posts, i have been long since SPX 1416 and i am expecting a move to SPX 1460 level (not today). But today's move with that stellar intraday breadth numbers suggests the move is far from over. Today is a range expansion day and will most likely close at the top tick.
Of course, Sorry I miss-interpreted your words and didn't want anyone to miss the run.
I remember you do your work around the hourly and if it were not a range expansion day...
"Consolidate around the resistance and make the assualt during the wee hours of the night."
I was assuming you were saying we were at resistance. Silly me.
No Problem.
#6
Posted 03 April 2007 - 10:57 AM
#7
Posted 03 April 2007 - 11:04 AM
Nobody mentioned it, the formation was actually looking like a diamond...
Now that you mentioned it, yes it does resemble a diamond pattern. I had always thought diamonds are bearish patterns.
Edited by NAV, 03 April 2007 - 11:05 AM.
#8
Posted 03 April 2007 - 11:09 AM
I had always thought diamonds are bearish patterns.
Why? I thought they were basically reversal patterns...