head & shoulder on the daily--DOW

Discussion in 'Trading' started by NY_HOOD, Dec 9, 2008.

  1. I am short. have a stop T 8867 on the dow. if the dow breaks that,i cover my shorts.
  2. covered my short by selling MZZ at 90.17. was in at 88.04. made 2 points.
  3. i covered too early but then again i did the right thing;i took 2 quick points based on the chart. the neckline to the head and i measured the break of the neckline. text book!!!
  4. Bulls are really fighting to hold the bottom for the day at around 8,663 on the YM. So far they are succeeding.
  5. This decline is closing the opening gap up yesterday. Tomorrow should be another strong rally. I think tomorrow we will close above 9,000.
  6. we may but lets take this one day at a time.
  7. I wonder if the divergence between the indexes mean anything... the NASDAQ being the strongest and the Dow - the weakest for the day.
  8. i would'nt read too much into the divergence thing. the naz qas stronger because shorts covered the semi's on the downside guidence for whatever reason. it was all semi's today.
  9. I see, that makes sense.