US Market 2010-11-24

By News Robot
    ESNQ
    AH High1189.752139.00
    AH Mid1182.632126.00
    AH Low1175.502113.00

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Comments
  • Lawrence Chan November 24, 2010 at 9:14 am

    4 big gaps in 7 trading days. A sign of struggle to find direction.

    A broad range is formed from 1970 to 1200. Should the mkt move away from this zone (i.e. a breakout) then do not attempt to counter the direction of the move until after its objective is met.

    2x the range means upside target at 1230 and downside target at 1940.

  • Lawrence Chan November 24, 2010 at 9:19 am

    Yesterday by end of day I commented that some upside objective has to be met as 76 area was defended multiple times.

    Here we are, overnight spike upto 85, selloff back down to 76, and zoom back up to 87, and then another spike high at almost 90.

    Very wild AH actions – meaning that morning session will be likely as volatile.

    First target for a day like today is 89.5 (R2) and then 95 (2x previous day range).

    Do not attempt to fade the run up in between without proper money management. There will be ample time to short after you see some initial weaknesses.

  • Lawrence Chan November 24, 2010 at 9:35 am

    AH high taken out.

  • Lawrence Chan November 24, 2010 at 9:46 am

    If AH high acts as resistance now, ORL

  • Lawrence Chan November 24, 2010 at 9:57 am

    NQ way stronger than ES.

  • Lawrence Chan November 24, 2010 at 10:19 am

    NQ filled upside gap now.

  • Lawrence Chan November 24, 2010 at 10:20 am

    89.5 AH high acted as support 94-95 next

  • Lawrence Chan November 24, 2010 at 10:27 am

    The strength of NQ rejected any sell side potential and 1st target for long tagged. =)

  • Lawrence Chan November 24, 2010 at 10:29 am

    There is no 2% sell troops, thus NDX tagging 2% at the moment do not translate to selling pressure.

  • Lawrence Chan November 24, 2010 at 10:32 am

    Next upside target area will be gap fill around 97-98 zone.

  • Lawrence Chan November 24, 2010 at 10:32 am

    ORH area should hold for the rally to continue.

  • Lawrence Chan November 24, 2010 at 10:41 am

    Tick indices are in extreme buying mode.

  • Lawrence Chan November 24, 2010 at 10:47 am

    A pause should happen soon.

  • Lawrence Chan November 24, 2010 at 10:49 am

    NQ has reached its average range.

  • Lawrence Chan November 24, 2010 at 11:07 am

    New high in 11 am is important for this to be a strong trend day.

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