Friday, November 19, 2010

11/19/10 EOD Update [EDIT 10:00 PM]

[EDIT 10:00 PM]
A channel to keep an eye on. The market bounce at the mid channel as well as in the past.

I have also split the upper half of the channel so let's see if the market can relaim the upper half of that channel or will it be rejected?

Option 1

Option 2

These are rough counts of the two options I'm following. More to come over the weekend.

I just noticed that the channel in option 2 was taken out. I'll update option 1 with that channel as well.

200 Week SMA

Not quite a hammer but a third week close above the 200 week.


Dollar daily looking a little bearish. Lower trending Histos. We'll see.
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