Monthly Archives: March 2007

It’s been a long time since I’ve traded on Fed day, and today was no exception. But at least watching the whipsaw action before and after the announcement was interesting. After spending the first four hours in less than a … Continue reading →

Each of the last four days has had less volume as we keep edging higher, and for the last two days my attention keeps returning to a 15 minute chart. I’ve been watching a WEDGE pattern develop as each upward … Continue reading →

After gapping up five points we spent the six and three-quarter hours making slightly less than a seven point intraday range. That’s rather tight when you are searching for a trade. I can point out several divergences today, but they … Continue reading →

Both yesterday and today we set up five point ranges that could have been called rectangles, but if you’ll check your technical analysis books you’ll see that the volume is supposed to significantly decline during the pattern. That isn’t happening. … Continue reading →

Today’s pre-market trading made a quick drop with the early reports, but gained it all back during the first three-minute bar. Up another five points, and we had completed the range for the day. About the only thing the market … Continue reading →

We made a nice bottom mid-day, but whether it is just a bounce or an actual reversal remains to be seen. It’s another of those times when I’m glad I can make my decisions as the day unfolds. I’ve left … Continue reading →

I mentioned yesterday that I was not interested in the upside at this time. Today you see why. I can’t take credit for calling this drop — almost every technical analyst I follow was seeing the same thing. Our concern … Continue reading →