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Thursday, November 05, 2009

Another Mediocre Day?

In my last post from yesterday I featured a couple of 1 minute charts of the SPY and IWM taken around 11 am. Based on those charts, it was very easy to see that the gap up in on the open had no support and it was reasonable to assume a close lower, even though at the time price had been heading higher. Well by the end of the day price did close lower. Being the market has only been open for about 35 minutes as I write this, we don't yet have enough information to make a similar call, but we'll take a look at what we have so far on the SPY with 1 and 5 minute 3C charts.








Posted by Brandt at 10:14 AM  

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