Let’s Keep Your Trading Simple And Easy
The market is not giving
us clear directions at all this morning. Look at the 5-minute chart
of the S&P 500 index below. We are trapped in a very narrow range. Has
the summer vacation started already? This is a frustrating market.
Last night I talked about Nokia (NOK) as a potential long candidate. The
stock is forming a bull flag just above the 50% retracement level as you can see
on the daily chart. Naturally we are looking for a breakout.
Shortly after the open, Nokia took out the upper boundary of a flag, and
currently the stock is trading at the best level of the day. Let’s keep your
trading simple and easy.
If you have questions, feel free to
mail them to me.
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