The retracement coincided with a 50% Fibonacci level measured off of yesterday's high to low move. A rounded bottom ensued, broke out, closed the gap from the open and then just ate it into the close.
Friday, November 14, 2008
Uturn
Following up on yesterday's look at QLD; at the close of the day we ended up with a 20- 50- EMA crossover and with that I was looking for a retracement move back to the 50-EMA.
The retracement coincided with a 50% Fibonacci level measured off of yesterday's high to low move. A rounded bottom ensued, broke out, closed the gap from the open and then just ate it into the close.
The retracement coincided with a 50% Fibonacci level measured off of yesterday's high to low move. A rounded bottom ensued, broke out, closed the gap from the open and then just ate it into the close.
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