Wednesday, August 27, 2008

NASDAQ Technical Picture - Bounce from Support




This is the morning after bounce - it seems, from memory that we bounce after FED meetings. Let's see if we can hold intraday support and build some momentum. We have to do it tomorrow because Friday is likely to be a low volume day ahead of the long weekend.


Trade Idea for tomorrow - BCSI $19.00 after several days of gap consolidation. The gap is a flag pole and the consolidation is the flag. On a measured move, we can expect $2.00

3 comments:

Aimable said...

Hi Jamie,

No consolidation in BCSI today. Do you think it will happen tomorrow (Friday)?

Jamie said...

Hi Aimable,

Yeah, the narrow range and strong finish today looks promising for tomorrow.

Aimable said...

Thanks!