Your #1 Site for Swing Trading and Day Trading
Welcome to MrSwing.com! Your #1 Site for Swing Trading and Day Trading Content
Instant Video Trading Seminars - On Demand - Anytime - Any Place
What Can a Triangle Do For YOU?
Free Trend Analysis
Home > Articles > The Markets > Yesterday was a start - but today needs follow...

Yesterday was a start - but today needs follow through
Nov 20, 2008

Picture

Declan Fallon

Fallond Stock Picks
More articles
Font Size:
Text size
Text size
Text size

Only a late day charge rescued what was on course to be a break of support. Volume sided with the bulls in a strong last hour of trading.

Click here to enlarge | Open in another window

On a closing basis we have picture perfect support with a solid bullish divergence in money flow. Stochastics are only a hair away from turning oversold (although a bit too close to support to suggest a break of support is needed to make them oversold):
Click here to enlarge | Open in another window

The level of angst as measured by the VIX looks to have apexed at the tip of a bearish wedge.
Click here to enlarge | Open in another window

However, don't lose site of the mixed breadth indicators; nothing is firmly bullish. All we have is a good case for support to hold, but nothing to suggest a move past neckline resistance. 


by Declan Fallon (Fallond Stock Picks)

Rate this article

 

Click to rate! 


Back to top



Back to top



Home > Articles > The Markets > Yesterday was a start - but today needs follow...

BUY? SELL? HOLD?
Find out now.

Recent Comments