Tuesday, September 11, 2012

9/11/12 - EOD Update

60 Min 
The market appears to be consolidating up here again just like it did near the end of August right before Draghi's announcement. The market may be doing the same in preparation for the Feds but on a smaller scale.

I added a few more color options since this corrective looking choppiness makes it more challenging. The best thing one can do is stay nimble and trade the range and trade the C and 3 setups.

Here is what I was tweeting earlier in the day with the proposed triangle. This lines up with the purple option on the 60 min chart at top.

Here's a 1 min view of what would go with the gray option on the 60 min chart at top.

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