Thursday, May 7, 2009

Check Back Later Today, Possibly a New Trade

I can't say for sure, but today looks like it could be the high of this move. After a long run up, XLF gapped up nearly 5% today. QQQQ is lagging badly for 2 days in a row. Hanging man candlesticks yesterday on QQQQ. Bearish engulfing patterns on XHB and RTH yesterday with follow through today on XHB.

If today closes weak, then the trade would be an entry with a stop above today's high.


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