Wednesday, September 7, 2011

3:38 AM Update

Not placing too much weight on this but let's see if this pattern is repeating.

Yesterday I posted the second chart in the chat room anticipating a touch of the lower trendline that coincided with an 85% retracement. So far that bounce seems to be right on.

Levels to watch:

1174 = 20 day SMA + 38% retracement of the 2nd green leg (2nd chart below)
1185 = 13 day EMA + 30 min upper BB + 50% retracement of the 2nd green leg (2nd chart below)

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