Tuesday, February 3, 2009

End of Day 02/03/09

Some interesting observations on the 30 minute chart. Yesterday afternoon as the futures was trending down into the bond market close, the $TICK pivot (H+L+C)/3 (Yellow Line) was increasing for two bars. As soon as the bond market closed, we got that big up 30 minute up candle acting as a coiled spring. Also notice how sometimes as the market reverses, support or resistance is found at the mid range of the previous bar's open and close.


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