Tuesday, November 6, 2007
Turn Around Tuesday?
I'm looking for some kind of a bigger bounce off the support area this market is trying to establish. A gap down on Tuesday with steady buying all day would be the ticket. Some kind of bullish piercing candle formation is what I'm looking for. The past 2 trading days have shown the Bulls are coming back. We've closed well above the lows of the day. Encouraging! Any breakout below 1488 is not good. I feel that a close below 1488 could lead to a retest of Feb. and Aug. lows. I'm seeing a mixed picture right now. I've started to see some positives in the Market Direction chart but, I'm still seeing bearish divergences in the Secret Recipe chart. Follow this LINK to RedDirtTrader to see all the charts that I built and watch everyday to make wise investment choices. Thanks for stopping by and please take time to vote for my charts. It doesn't really mean anything if you do, it's just an ego thing to see votes by my chartlist.
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