Abundant Opportunities
Market participation and
market liquidity have vastly improved this morning, and
the Qs have continued their key 13-minute and hourly uptrends which began
yesterday afternoon with a classic cup-and-handle break from the 13-minute
support handle base. For those missing the early move, opportunities to trade
early trend-continuation triggers this morning — as detected by relative
oversold stochastics upon price supports — have been abundant for both scalp
and swing traders. (Keep in mind that the 13-minute 15-MA on my multi-time
frame setup is analogous to the one-minute 200-MA, within reason, which is
watched by many.) The Qs are now over $2.00 off their Monday end-of-year
panic dump, and the weekly chart continues to guide nicely on this recent climb
and extension off the 15-MA support.
Thursday January
3, 2002Â 12:00 PM EDT
Going back to yesterday’s
column, the afternoon basing north of what had been key resistance was
indeed a nice setup for those focused on it.
Good Trading!