Day Trading – The Bullz And Bearz
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Perfect Retracement & Shooting Star Candle
July 30th, 2009
Wow! What a reversal at the end of the day – pretty much closing the gap from this mornings jump. All in all, the S&P 500 put together a great shooting star pattern RIGHT at the 38% fib retracement level in BLUE. From here there is a lot of open air below the market right now and momentum indicators are suggesting it’s time for a sharp pull-back. This is exactly the type of trading signal convergence we are looking for right now. GDP tomorrow is expected to be poor so let’s see how far down we go. Make no mistake we are going to make money off this next move…just like all the others.
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July 30th, 2009 at 4:53 PM
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