Monday, May 19, 2008

Does this remind you of last Wednesday?


Yes, it does! Similar price action to last Wednesday. Market opens strong, makes a new high, pulls back a little to make another new high by 3 points, then another new high by 1.25 points... but then breaks an uptrend line and heads lower rather viciously. A pullback goes nowhere and new lows are made but a sharp short covering rally bounces 18 points from the lows.

And like Wednesday.... ES and YM close higher while NQ closes lower. hmmmmmm

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