Monday, December 16, 2013

12/16/13 - EOD Update

Finally got that bounce I was looking for. Some uncertainty going into the FOMC mtg minutes.
Both bear and bull counts are in play so unfortunately it can go either way.

One thing I notice is the 60 min chart somehow reminds me of a topping pattern we have seen in the past, which was mistaken for a consolidation pattern only to fail.

5 min 
15 Min 

As I posted near the beginning of the month, we should watch the range and stay nimble. Three touches at the bottom so far. Two at the top. Will there be a third? Not if the bears can help it. We'll see.

60 Min 

blog comments powered by Disqus