Looking for short term trading opportunity back to 100 - back to the 50 day moving average.
* clearly defined falling wedge
* double bottom at the 85 level -- a level which also was congested some months ago - strong support here.
* MACD setting higher lows; about to cross the trigger line.
* gambling/speculating on this with 93, 95 calls sep/11; may push forward another week if setup doesn't break down.
* clearly defined falling wedge
* double bottom at the 85 level -- a level which also was congested some months ago - strong support here.
* MACD setting higher lows; about to cross the trigger line.
* gambling/speculating on this with 93, 95 calls sep/11; may push forward another week if setup doesn't break down.
Trade closed manually:
closed this out in the am around 97 - it could get back up there but with only one day left and the market breaking down, now seems like a wise time to take profits.