Friday, September 16, 2011

One More Head Fake?

It looks that way...
 Here's the daily head fake above local resistance

On the intraday chart we have a nice little bullish continuation triangle, a breakout here would lead longs in to the market and set a nice bull trap.

And the SPY in 10 min Bollinger Bands, notice how they are getting tight, implying a directional move. Even the presence of this triangle will get bulls to buy.

No comments: