Out 1/2 that S&P short from yesterday @ 963.50 +4. I will hold the balance
Nice average up
Friday, July 24, 2009
CRUDE ANALYSIS
Crude looks like it has setup a H/S on my trading chart (144T). It also appears as though it wants to fail.
It measures .80 and targets down to around 65.90. The 161.8% projection from the high is conveniently close at 65.96. We will see how this plays out.
The pattern looks like it is setting you a Head and Shoulder pattern which should work but don't think it has to so be careful and use stops.
Notice we hit that 67.50 area I said was the PERFECT area to short and you SHOULD be short there with a stop appropriate to the H&S pattern
We will see.
MARKETJEDI
It measures .80 and targets down to around 65.90. The 161.8% projection from the high is conveniently close at 65.96. We will see how this plays out.
The pattern looks like it is setting you a Head and Shoulder pattern which should work but don't think it has to so be careful and use stops.
Notice we hit that 67.50 area I said was the PERFECT area to short and you SHOULD be short there with a stop appropriate to the H&S pattern
We will see.
MARKETJEDI
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