Wednesday, February 16, 2005

Break: day 3

After close analysis:

Still on break. Nothing much happened today except for a 2/6bo setup on AB. 2 things to note: Internals were weaker than futs and indices which means market setting up for major move tomorrow. And 3-day H&S pattern on Smh/Sox.

Market breadth was clearly underperforming rest of market. Vold, Add, and Addq all were below previous day's range and had +ve xover. Vold warning of a major move tomorrow.

Futures led by AB: tried to poke thru multi-day apex and didn't get the job done. NQ spent day hovering around ema while ES had a minor bo above ema and established a new hi by a tad. ES 200R chart still bullish.

Indices mixed. Dow revisited recent hi and bumped against 10850 level forming a multi-week dbl top. Smh & Sox have H&S pattern and setting up for bo.

Overall neutral day!

0 Comments:

Post a Comment

<< Home