Wednesday, November 30, 2011

Afternoon ROMPer room or chop?

The market has been holding up very well since it's giant gap up, but after taking out the first hour;s highs into 11AM, we've been chopping it to the downside, although still up 37 points and I am typing this.

I'd like to see a push to the downside to see if the Bulls step in. As of right now, that would be the best place for a wholesale entry, but no guarantee that we get that kind of move.

I'm watching for the support zone to start at 1230 and end at low of day.

Strong breadth says for now, shorts are scalps and anti-trend.

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