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Friday, October 31, 2008

Choices?

Into the close, most of the averages look a lot like this SPY 5-min chart. they've been testing and holding that 150 ema in blue

Picture 13

So go ahead and plot one of those on your 5-min charts and watch for a break below support into the close. If that's the case, I'd be taking profits (actually I've already said you should be looking at that idea in previous posts). I think we may be setting up a trading range here shortly.

If you don't have charting software, check out my recommended software at these links TeleChart and StockFinder.

Posted by Brandt at 3:46 PM  

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