Chart Abbreviations:

3BC: 3 Black Crows; 3WS: 3 White Soldiers; BeC: Bear Channel; BeE: Bearish Engulfing; BTC: Buy To Close; BTO: Buy To Open; BuC: Bull Channel; BuE: Bullish Engulfing; DCC: Dark Cloud Cover; EnP: Entry Point; ExP: Exit Point; FW: Falling Wedge; HL: Higher Low; HH: Higher High; HM: Hanging Man; IR: Island Reversal; LBB: Lower Bollinger Band; LL: Lower Low; LH: Lower High; LPP: Lock Profit Point; MBB: Middle Bollinger Band; NABOP: Not A Bottom Out Pattern; NATOP: Not A Top Out Pattern; R: Resistance Line; RW: Rising Wedge; S: Support Line; SLO: Stop limit Order; SMO: Stop Market Order; STC: Sell To Close; STO: Sell To Open; T: Target; TSO: Trailing Stop Order; UBB: upper Bollinger Band;

Tuesday, September 29, 2009

Daily Review 2009-09-29

OK, Tomorrow will be the last trading day for Sept. How the market could closed for Sept, that is still a big question mark, DJI closed up 246 points for the month of Sept as of market closed today... And 246 points on DJI is really a one day job... this means... before the end of trading tomorrow, we still don't have answer on what a Monthly candle could be for this Sept: red or green.

Chart pattern and market action might hint, SPX could see 990 or lower very quick!

Stay on high vigilant.

Detail After market closed reviews posted here.

1. $SSEC Daily:

LL LH red doji, continuation pattern, trading range between 200 ema and LBB, this is still the resistance and support range for tonight.



2. DJI Daily:

HH.HL peak red bar, with volume up, so, green day with volume drop, red day with volume up? S2 is turning into a resistance, Day 4 closed under S2, so, rising wedge B&S2 break down is valid.
Again, no support until line S. MACd/KD/RSI continue heading lower.



3. SPX Daily;

HH.HL red shooting star looking candle with volume up, C is still the resistance, support at S3. Very fragile pattern, Rising wedge E' & S3 break down should send it down to S3 in days...

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