Thursday, September 9, 2010

Thinking Gap Down

 It is a dull market, and most  indicators are slightly overbought, but the trend is up so the picture is mixed.  Not too confident about tomorrow's action, but the trading today with the solid rejection of 1110 and typical Friday jitters should give us a gap down.
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1 comment:

Petsamo said...

My spreadsheet gives a 60% probability of a gap up.

The FTSE is at resistance but its trend line is upsloping. The DAX has a double top. India busted its upsloping resistance. Brazil is at its downsloping resistance. Japan & the Hang Seng are free to move up or down. We gapped above our downsloping resistance and our downleg today tested the trend line which now functioned as support.

I'm not 100% long so the market can gap either way for all I care.

9/09/2010 06:15:00 PM

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