July 21, 2009

07/21/2009 intraday update

4:03pm

closed the position with a small lose.  it’s not the reversal day I was expecting…

 

3:37pm

good thing for bears we indeed see some impulsive down wave this morning, could potentially be wave 1 and 2 right now.

 

3:24pm

5min chart is a good entry.  close to 50% retracement right now.

 

image

 

1:00pm

Since market made intraday new high already, I have to reevaluate the market.  Previous H&S pattern is not valid any more.

 

12:33pm

today looks like the reversal day so far.  bulls need to take a break at least.

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