We stopped right at the line for the bear channel. It is currently acting as support. Stochs are a oversold on the 60 minute.
A descending wedge was formed on the 5 minute. I suspect we will break out to the upside. Potentially testing the lower trendline of the ascending wedge on the 60 minute chart. Potentially getting as high as 89-90. Oh my god...I am thinking it will go up :-P
2 comments:
I'm looking for the same..Your charts are spot on. Market was extremely choppy today. Added a few 88 jan calls in the lower .90's. High risk but I believe they will pay off. Looking for a gap up in Morn.
I wimped out and dumped the Jan 87 calls I bought yesterday. Slight profit, but I sleep better at night on the short side these days :)
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