Thursday, March 16, 2006
The double top on the Dow Jones 10 minute bar chart is being perfectly formed by the double top on the 5 minute bar chart right now. The first real sell point of the morning was just set up. It's been a great run up from the opening bar and the double bottom at 9:30 and 9:35. I don't trade the overnight session so didn't even have my computer on to catch the first rally at 8:30. No problem. There'll be more. As a matter of fact my thinking is to leave this short alone and sit tight. We're getting quite a bullish push in the Dow and S&P these last few days so I see these selloffs as corrections to support in this recent bullish trend.
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Let's talk! Otzi@telus.net