After what looked like a bearish
formation from the head and shoulders
pattern, it's looking more like a bull flag
from the lower level support at the 204 area. We have several reaction points to verify this flag formation
too. The markets saw increase volume
in trading today and the day ended in a hammer candlestick
formation which is considered a bullish
reversal pattern. BE CAUTIOUS and trade only what you know...do not guess which way this market is going.
Best to be neutral right now.
Do you know your trading IQ? I call it your "TRQ." Learn to trade with uncertainty in the markets and discover what hundreds of other traders have discovered. I've created an online test...its FREE and the results will surprise you.
Take the test here: http://www.tradertraininghq.com/test.php