Rabu, 13 Januari 2010

Technical Picture - Markets Bounce Back

Broad based buying brought back stocks after yesterday's losses.


AMZN came within 15 cents of the December low and bounced. Before attempting to catch a falling knife, we wait for a base to form. The daily pivot S1 held as support and we entered long off of the 5 min. timeframe. Closed the day trade at R1 and hanging on to swing trade with BE stop.



HCPG had many similar setups with lots of triggers.

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