Market Scheming

Wednesday, October 20, 2010

S&P up gold relativelly flat

Just wanted to bring to your attention the following.  An identical pattern is forming and the ADX and MACD are following the same patterns.

I have been out of the market until today and picked up some Oil using HOD at 9.14.  with a loose stop.

Gold did not rebound today, so it will be interesting to see how it behaves over the next 1-2 weeks.

Ciena was still weak.  The stock is still stuck under the 50 MA.

Again the importance of trendline analysis.  The 50 MA would be a very good scalp trade to the downside.

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