$SPX 15 Minute: The market's work up on this leg was unfinished and pushed higher. It still looks unfinished, so we might get another splash up. We finally have divergences forming though.
$SPX 60 Minute: Market testing minor price resistance. I'm still of the view that a finish to wave 1 or A up is done or about to finish soon, and a consolidation is to follow.
$SPX Daily: Market pushed right into cluster resistance. This is an ideal spot for a consolidation. A bull flag would be interesting!
My Watch List: I'm waiting to see the market consolidate the gains of the big run, so no charts yet.
From My Trading Desk: We had no trades today.
It's really a simple story right now, I think the market could be buoyant most of December, but I'd like to see a consolidation as a re-entry point.
Happy Trading.
J.D. Rosendahl, Rosey
Monday, December 5, 2011
Stock Charts: Market Tests Cluster Resistance
| Stock Charts: Market Tests Cluster Resistance Posted by J.D. Rosendahl at 1:59 PM | Print Page | Email This Post |
Copyright 2010 J.D. Rosendahl. All rights reserved.


