Thanks for the trend watch Bernard. I am long a Call from yesterday but I do not have any strong opinions here. Just scalping a little. The Dow daily is quite oversold but the hourly was overbought and the 15 min MACD was crossed for up. A mixed bag but working so far. steve
Morning Bernard, Yes, looks as though the breakout is holding support. Interesting that we once again have an upper Bollinger band piercing so I will be watching to see if the HOD will hold resistance or we have another breakout. Might get a HOD type crossover on the 5 day chart or an MACD crossing but holding support above the 100/320SMA does indeed look Bullish, as Steve pointed out. Much as the Inclining 100/320SMA kept signaling the potential for the Uptrend to continue I will be watching to see if the Declining SMA will be signaling the potential for the Downtrend to continue. Watching 8500-50 for Support and 8600-25 as Resistance for a Breakout or Breakdown. Calls could be held using a breakdown of the SMAs as Support as a stop limit and Puts could be held using a breakout as a stop limit, JMHO though Enjoy the Day Bernard and Everyone! :^)
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