June 2, 2009

06/02/2009 Intraday update

12:45pm

a bad call.  still in uptrend and it’s a a-b-c corrective wave. 

 

12:34pm

 

image

 

12:30pm

more downside coming

 

3:21pm

support got broken on 1min chart… for aggressive traders only

 

image

 

2:49pm

Consolidation continues.  let’s see if last trading hour has any change.  Watch GS closely, a big bear wedge in formation and may break out any time.

 

 

1:41pm

I do not have much to say today.  Consolidation day but looks bullish.  quite some overbought signals are cleared in the consolidation zone.  market  can push higher to 960 level or above. 

move the stops of shorts to break even point.

2 Good Insights:

frodovic said...

Can I give you a small advice (I will take advice from you too :))? Try reading the 1hr graph from an EW perspective before diving into a supposed 3. It usually helps me ... :)

Thanks for the great blog. Its a must read already !!

Rolling Lines said...

Man, thanks for that~

i agree that big picture is important...

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