Tuesday, August 24, 2010

Technical Picture - Gap Fade

The opening gap was faded 30 minutes into the session. A gap fill held into midday, followed by a few hours of chop, and more selling into the close. Support at Friday's lows, followed by the 62% Fib. retracement of the July-August rally. Existing Home sales at 10:00 EST.

APKT was a failed BO.

CRM retraced 50% of Friday's trading range. Wait for tradable setup.

ISLN - shallow retracement and retest of the day's highs.

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