Perhaps we'll have some resolution, in terms of direction, come Monday. Especially if we find ourselves in a nuclear war.
I continue to stalk Treasuries, via TLT/TBT, and today was an excellent day for TLT.
The open on TLT was a slight gap down, followed by a narrow range consolidation that didn't seem to have a directional bias. The impulse move that followed brought us right into a previous day's resistance range, set up a nice tight flag, a volume breakout (yellow dot above the candles), followed by a breakout.
Later in the day provided another entry, as price retraced only to come back and base around the highs.
RIMM was an earning's play. They announced Thursday after-hours, beat estimates, but foreward forecasts were weak. After-hours yesterday saw a strong sell-off that was eventually bought up. This morning however, price gapped down, filled it's gap, whipped back down to the lows and consolidated into a narrowing triangle pattern. The break of the apex came complete with volume surge (yellow dots above candle).
The SPY hasn't resolved very much and today had a difficult time staying above the $92.50 level. Perhaps come Monday we're either in a nuclear stand-off with N.Korea and we tank, or it's avoided and we rally (haha).
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