Monday, November 2, 2009
Sharp Rally Brewing
The market's decline appears to be losing momentum to the downside. We are now looming at some nice looking DOJI candles on the SPY and NASDAQ. The nasdaq is also appearing to be setting up a falling wedge on the 30 min charts further indicating a rally could be brewing. Today also, i noticed that there many "easy" short setups. Most of the time, whenever i see 'easy' short setups, that has usually led to a reversal higher. The market rarely offers freebies for too long.
Posted by Stewie at 4:47 PM
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