Mike
11-02-2015, 09:28 AM
Watch lists are updated with the usual suspects.
The NASDAQ is approaching its old high which is a possible place for the market to stall and perhaps put in a double top. I note that in the futures market the possible double top has already formed. The weekly chart below shows that the futures market made this possible formation last week.
33037
The market, of course, can do anything. Least expected, however, is a robust rally from this point. If the market wants to stall at its double top I may try a short position.
The pre-open markets are up slightly this morning.
The NASDAQ is approaching its old high which is a possible place for the market to stall and perhaps put in a double top. I note that in the futures market the possible double top has already formed. The weekly chart below shows that the futures market made this possible formation last week.
33037
The market, of course, can do anything. Least expected, however, is a robust rally from this point. If the market wants to stall at its double top I may try a short position.
The pre-open markets are up slightly this morning.