Stock pick for 11/14/2011
Dear traders,
I like to explain SPY daily chart for next week. Obviously Wednesday gap down (bull trap) didn’t brought market down and we saw with Friday gap that SPY form triangle pattern on the daily time frame. Despite of negative news market still hold and right now chart suggest that we could see triangle break up on third try. Technically that is opportunity for swing move up and ideas what you will see under support that possibility. But despite of that I like to note that we are still in news market and risk remains higher and please keep that in mind. Any day, anytime we can see stronger reaction in anyway and because of that we must keep small risk for possible swing setups. For now smaller time frame setups will still be safest and I will closely follow market open at Monday.
Wish you all nice trading week
Ivica
Nema komentara:
Objavi komentar