Friday, March 2, 2012

SJM Update

This is more of a reminder...

 SJM daily -Break-away gap and 200 day moving average resistance

 Intraday there's resistance around $76.25 which looks like a churning event

 The 30 min chart is showing some weakness in the bear flag.

 That weakness is flowing from the shorter charts like this 15 min.

 Here's today's 5 min, my guess would be distribution here above the 200 day.

There's a clear trendline in red and the 200 day near the same area. You might look for  break of both as a possible entry on a short trade.

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