Expect 15% pullback from today's close. No eager buyers and they won't buy until july lows and some want march lows or may lows. and that is where support is. as for daytrading it's pretty dead intraday. doji everyday and dead zone from 10:30am to 3pm. not worth the commission to even trade. if we close at low of the week it would be a shooting star two weeks and market is in locked doji either for options expiry or rigged by market makers. market stuck in no man's land
Market is going to close up after very bad retail sales figures. Inverse head and shoulder pattern on hourly chart targets further gains if it breaks out. Only negative is an early broadening top forming on daily bar charts.
Everyone knows the market is going to breakout into the 4pm closing. No such think as resistance in this bull market.
no pattern it's a weekly doji. daily doji the charts for some stocks is like flat line. bi-weekly it's a hanging man and lots of distribution
Financials pushed higher right into the close, xlf just a couple pennies short of intraday highs. Went against the trend long 1000 RFN @ $6.70 today. :eek:
after today and yesterday's action,,,this market is still holding on to support...but resistance hasn't been broken. still too early to short. everybody is buying the dips very unsual to see an obvious roof hitting flat for 3 weeks. indicating is obviously rigged by the market makers..