Tuesday, November 17, 2009

The Next Move

Post rally Tuesday finds us range bound today, but like any given day, there are trades out there that are moving, so always keep an open mind to your approach to any trading day. If this is going to be a turnaround Tuesday, it really hasn't revealed itself yet, but there's plenty of time left in the session, and I'm looking for a possible gap fill, but that remains to be seen so far. Either way... something's coming, we just don't know what it is yet, although we each have our suspicions and will trade whatever comes our way. I'm posting a little review of a few daily charts, and a few Zig Zag charts using the T theory method, and a potential roadmap ahead for time frames of turns or swings. Included for that collection is a chart on $NYAD, as this will influence the moves ahead however it decides to play out. Although we were both a little frustrated as our projected time frame arrived yesterday, and we didn't get the perfect candle there, it painted the swing high on the next 15 minute candle, so overall not bad at all for an experiment. This afternoon at 1:00 PM EST is the Housing Market Index Report, tomorrow morning at 8:30 AM CPI and Housing Starts, Petroleum Status Report at 10:30 AM. So.. good luck and good trading into the rest of the session, keep your wits about you and have fun with the day - hey.. it's only money! :-)

INDU with ascending broadening wedge

IWM stuck on stupid, or getting ready for something else?

Zig Zag T Chart during yesterday's rally

Zig Zag Potential T Chart Roadmap on IWM for timing purposes


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