The market has found support just above the 12/01/08 low. I don't know if this will hold, since we are entering a typically 12-day December Bearish period. The market usually does not get too bullish until after the witching day on 12/19/08.
We got a nice bullish divergence at 1045 ET. I'm learning to wait for the end of the 5-Minute period before casting judgement on market direction. It is helping me to not enter too soon, which I typically do.
Above is the ShowMe Code for the $TICK chart that I have been showing on the 5-Minute charts lately, as promised to Michael. The blue average line in the code is called "PivotAvg" and is the 2-period SMA of the ((H+L+C)/3) calculation for each bar.
Charles
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