Thursday, February 16, 2012

Bust out

The aggressive Bears from yesterday are now rethinking their plans as the Bulls refuse to give up.

1353 is a key and critical level, it's the 78.6% Fibonacci retracement measuring from yesterday's (premarket) highs to today's (overnight) lows.  Above that suggests new highs on the year including overnight action, below that says we may get a retest down


As of right now, breadth is at highs of day at nearly +1400 and the price action is bullish

One little wrinkle could be a challenge at the day session highs of yesterday that could make a double top

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