Broad based buying brought back stocks after yesterday's losses.
AMZN came within 15 cents of the December low and bounced. Before attempting to catch a falling knife, we wait for a base to form. The daily pivot S1 held as support and we entered long off of the 5 min. timeframe. Closed the day trade at R1 and hanging on to swing trade with BE stop.
HCPG had many similar setups with lots of triggers.
2 comments:
Hi thanks for posting the AMZN chart... Personally I'm amazed at the continued strength of the overall market. This is clearly a jobless recovery! Enjoying your updates.
Cheers
Tim
www.eminifuturesblog.com
Thanks Tim,
Agree, eventually the lack of real economic recovery will catch up to the markets and we will get a sizable correction.
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