Monday, August 24, 2009

End of Day Review 08/24/09

Momentum changes before price does. We started to get a $TICK momentum divergence on Friday. Today, we didn't get significant selling until after the European market close. Then price had to catch up with momentum.

First the overnight high became resistance, and then Friday's high became resistance.

The market is still above the bottom of Friday's Value Area. 1027 is still resistance.

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