From the past two appreciable declines in 2001 and 2008, there appear to be some trend lines worth watch, in case current price action follows similar patterns.
Two very strong resistance cues: (1) you have the former support turned resistance line (2) you do not have a lot of room for price to advance if it does poke through the resistance line Here is what I am looking for: (a) price to breach resistance line to the upside (b) price to pop aggressively above the upper daily bollinger band (c) harvesting of the late...
The institutions got the liquidity they were looking for and closed back into value, so expect a big move up into new highs. Volume is high on this reversal, the shorts are trapped and will be squeezed at the top. Buy any pullback tomorrow with a stop below the 68 level, target is 82 and beyond depending on how price reacts on the breakout. This is the season...
The big players quickly gapped prices above a high volume sell level so that buyers will stay long and be happy with their position. This save them money by not having to buy into heavy selling, so this market wants to go to new highs.
You could have added to longs with your earnings this way. Bullish fundamental outlook for the next few weeks for stocks. Here's a low risk entry to go long with a tight stop.
A quick chart for TNA...abcd could be in the cards. Has retraced a 61.8 and bouncing. I'm early in on 1st long position Safe trading Ladies & Gents BM After posting chart: ( The fib should have been at the exactly top - then a perfect spot on 61.8 retrace could be seen)
Looks like a double zigzag is in the cards ... but could go lower for the 1,168 fib for completion. A capitulation flush and then a strong bounce up. But i'm hesitating to go in for more than a scalp here. Monday could be the day of good timing after a friday sell off before close. Time will show Safe trading here ladies and gents! BM