Friday, June 24, 2011

Frustrating Friday

That's what I'm calling today. So far 3C has been pretty square on the money, t suggested a bounce is brewing and we went from a rapid decline to a lateral trend, that was a bg development considering the downside momentum in the market just 10 days ago. Then 3C showed accoumulation and said the market will bounce, it did so, then it said "resistance is too strong, the market will have to pullback and regroup", the market pulled back yesterday, so I'm happy with 3C's calls so far, but today has been frustrating to see anything that I would consider a strong signal.

Here's about the best I've seen and it isn't what I was hoping for, but that could be because traders usually lower risk going in to the weekend, not increase it.

 60-min -Considering price action, the fact that it hasn't moved down is a good indication.

 30 min- This one has actually moved up a bit.

 15 min -this is an important timeframe and today it's moved up a bit, despite prices.

And the 5 min, well it's marginal.

Thus, "Frustrating Friday"

Hopefully Monday will show some better signals.

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