Wednesday, August 5, 2009

End of Day Review 08/05/09



Financials stayed strong all afternoon helping to lift the broader market.



Volume distribution formed a B shape, which is typically bullish. The lower volume ledge may provide support.



I started using the 6,20,16 MACD on the 1-minute $TICK chart to help prevent myself from entering a trade too soon, which is a bad habit of mine. The MACD Difference ( histogram) helps with timing. It is most useful when the market is near key support or resistance.




The $TICK stayed above the zero line most of the afternoon.

Charles

No comments:

Post a Comment