AI
Tuesday, May 13, 2003 12:41:32 PM
TNX trading review
The TNX closing at Intraday resistance might be a good signal to watch for the morning gap down, maybe. Will need to keep watching it to see if it will be consistent. Hitting it's 100/320SMA created some resistance for a retest of support, which the markets seemed to follow at 10AM. Now that the TNX is holding support the Markets are trying to regain some ground from yesterday. Would be watching the TNX to see if it can recover back above it's SMAs or if the resistance will keep it moving lower. It Looks as though the resistance at 10AM lead to a short Market correction that found support at 10:30 when the TNX did. The Plan does indeed continue to show Bullish and if the TNX can recover back above it's 100/320SMA then All indexes will be in Bullish territory. The TNX is the only index we follow that is in Bearish territory. Will that continue?
The TNX closing at Intraday resistance might be a good signal to watch for the morning gap down, maybe. Will need to keep watching it to see if it will be consistent. Hitting it's 100/320SMA created some resistance for a retest of support, which the markets seemed to follow at 10AM. Now that the TNX is holding support the Markets are trying to regain some ground from yesterday. Would be watching the TNX to see if it can recover back above it's SMAs or if the resistance will keep it moving lower. It Looks as though the resistance at 10AM lead to a short Market correction that found support at 10:30 when the TNX did. The Plan does indeed continue to show Bullish and if the TNX can recover back above it's 100/320SMA then All indexes will be in Bullish territory. The TNX is the only index we follow that is in Bearish territory. Will that continue?
Good Luck to All! :^)
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