Market commentary for 02/25/2009
Good day!
NOTE: next 10 days my site will be at http://www.pop35.com.hr/ I will be there until my official site will back (they said about 10 days). Thank you all for understanding.
First I want to apologies because I didn’t post anything for Tuesday. I had problems with my stomach and I still don’t feel well, so I wasn’t near computer last three days. I’m not sure if I will have strength for watch list but like to tell few words because market is in possible significant recovery and I like to give few ideas. After bad Monday indices back all and formed 60 min “V” bottom. There are number of CCI ideas what I sent for Monday watch list and they are all still valid and they are all swing possibilities and I will focus on them. Also look at 60 min charts; it was really nice CCI setup (same as 120 min triple CCI setup) and in combination with monthly support and SPY double bottom I think that we could see more then day or two bounce. First resistance will be Monday high and after that daily 10sma. I don’t know how strong bounce will be, but I know that this is opportunity for several weeks correction and I will watch them on the weekly charts. If you missed yesterday rally, right now is important to see will 60 min “bottom” hold. That is right now main focus, because if that will be case then we will get consolidation (handle) and that will be another opportunity for continuation. Because of that I won’t take new trades right at the open. I missed several nicer weekly CCI setups and I will look for consolidations and new opportunities.
Good day!
NOTE: next 10 days my site will be at http://www.pop35.com.hr/ I will be there until my official site will back (they said about 10 days). Thank you all for understanding.
First I want to apologies because I didn’t post anything for Tuesday. I had problems with my stomach and I still don’t feel well, so I wasn’t near computer last three days. I’m not sure if I will have strength for watch list but like to tell few words because market is in possible significant recovery and I like to give few ideas. After bad Monday indices back all and formed 60 min “V” bottom. There are number of CCI ideas what I sent for Monday watch list and they are all still valid and they are all swing possibilities and I will focus on them. Also look at 60 min charts; it was really nice CCI setup (same as 120 min triple CCI setup) and in combination with monthly support and SPY double bottom I think that we could see more then day or two bounce. First resistance will be Monday high and after that daily 10sma. I don’t know how strong bounce will be, but I know that this is opportunity for several weeks correction and I will watch them on the weekly charts. If you missed yesterday rally, right now is important to see will 60 min “bottom” hold. That is right now main focus, because if that will be case then we will get consolidation (handle) and that will be another opportunity for continuation. Because of that I won’t take new trades right at the open. I missed several nicer weekly CCI setups and I will look for consolidations and new opportunities.
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