AA Charts

I'm really not sure if AA was an earnings leak and there's some intention to stay with it or it was just a rather large earnings leak.

In any case, I don't think I'm going to discover the reality today so I'll keep watching AA and see if there's fast distribution (suggesting an earnings play they are exiting) or see if it holds. While we await these signals to develop, I'm also throwing AA in to a couple of trending systems for those who want to use some kind of trailing stop.

 This is when and where we picked up AA on Monday, just a penny above the lows of the day.

So far this version of 3C is showing confirmation of the gap up on an intraday basis.

The 2 min chart being positive once again is like that example of the longer 30/60 min positive charts being the treasure chest and the intraday charts being the key to open it. This is what I really liked about AA, the consistiency of the divergences through 5 or 6 timeframes, all doing the same thing at the same area/time, so there was excellent confirmation, but that doesn't tell me what their intentions are even if it does suggest an earnings leak.

 The 3 min chart shows the same as all, distribution at the highs to the left and accumulation in to lower prices, EVERY chart shows the same thing.

This is the 60 min, again negative or distribution at the high/ accumulation in to the lows.

 30 min chart... the same thing

The 5 min chart was leading positive before today which was good for an entry signal. As far as confirmation of continuing strength today, the 5 min chart will take a little time to either move higher or show distribution.

So until the shorter term charts start showing a clear trend, I'm going to put this in a trending system and if you like, you can use that as a trailing stop, both will lock in gains as they move forward.

 Above you can see where the X-Over system gave a short signal and in orange a whiplash/false buy signal and then a confirmed buy. For now since this is new, it will stay on the 60 min chart, hopefull we'll be able to move it out to a daily if the trend holds up.

For now the expectation would be for an initial pullback to come down to the 10-bar moving average (on a 60 min chart) which will be higher, I'm guessing around $8.10-$8.15 if it pulls back. The other two indicators need to stay positive and I'll keep an eye on them.

I also gave the choice of using the Trend Channel...

This is also set up on a 60 min chart for now. The current stop is a close (60 min bar) below $8.00, this is still above the entry at $7.85. The TC will continue to lock in gains, even if there's a consolidation. I'd like to get this in to a daily chart as soon as possible.

If you don't have the Trend Channel, for now a 22-bar expo. m.a. is pretty close to the channel, I'll update you on the m.a. that is closest as we go.