Tuesday, February 24, 2009

Minor Strength


Today's early strength has been quite underwhelming to say the least. I'd love for this to be the start of a multi-day bounce back up towards resistance, but the market needs to at least break above some intraday resistance levels to get the ball rolling. The 15 min. chart has formed a few higher pivot lows showing some signs of increasing demand (buyers on the dips). What we really need is a break of 758 level, so I'll be watching that for the remainder of the day.

4 comments:

Jim & Scott said...

Great Post!

3percenter said...

Looks like we had our break! We'll see what it does tomorrow based on Obama's speech.

Tyler said...

yeah, had some very nice follow through. Today was a great example of an intraday breakout. Ran right up to the next resistance level of 774.

QUALITY STOCKS UNDER 5 DOLLARS said...

Greater is better than weaker.