AI
Wednesday, January 18, 2012 9:17:25 AM
SP Futures 1298-1288
A bit of a downtrend from the overnight high but could be looking for support again. Took an extended weekend so missed the spike yesterday. Much like Friday's gap down buying we saw some gap up selling. Not sure if the cycle will continue that way but it seems the bigger the gap the bigger the reversal. The small gaps can often lead to continuation. TNX is yet to participate in the upside but is also at a potential support but Below it's Major SMA. Today will be a test as to whether the Support will Hold or we again get a breakdown.
Enjoy the Day!
A bit of a downtrend from the overnight high but could be looking for support again. Took an extended weekend so missed the spike yesterday. Much like Friday's gap down buying we saw some gap up selling. Not sure if the cycle will continue that way but it seems the bigger the gap the bigger the reversal. The small gaps can often lead to continuation. TNX is yet to participate in the upside but is also at a potential support but Below it's Major SMA. Today will be a test as to whether the Support will Hold or we again get a breakdown.
Enjoy the Day!
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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