Thursday, August 26, 2010

The Good, The Bad or The Ugly?

.. that's the big question for tomorrow's GDP report. First of all, we have a small change in the MCO, which is the signal for a possible large move coming in the next few trading sessions. Second of all, this was not a very good bullish confirmation day for more upside, but we're used to surprises, so normal TA in that respect has to be taken with a grain of salt.  Lastly, it appears we have a bearish dark cloud cover candlestick on SPY EOD, but it needs to confirm tomorrow. 


A few charts and some interesting things to keep in mind on the daily charts going forward.


indu_8_26 ndx_8_26
spx_pnf_8_26 spy_8_26
nymo_8_26 nysi_5_ema

Good trading to you all tomorrow!  Don’t let me down- take their money and run!


How about a little spaghetti western music to get you in the mood for trading on Friday?  Buon Appetito. Mwahahahaha


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