A very slight gap up this morning with a very brief test of our previous day's highs, all on relative weak TICK. The lows of the day were formed on a TICK divergence at the 10:45 hour as well as on the 1:00 hour.
Here's the 5-min chart; the green horizontal line being my support pivot for the day that acted as resistance for most of the morning. Also marked are the momentum divergences present today.
I was watching FCX today as the dollar continued to weaken. Price failed my support pivot but again found support at the Monday gap-up low. Once price recovered and tested the support level, I entered a very small position to target the highs of the day.
I was looking for some sort of move in RIMM today, instead it just based around my resistance pivot.
Big mover of the day was AIG, playing on sympathy with Radian Group's reporting. Though I didn't make a trade in it, it still presents a beautiful portrait of a perfect trend with perfect setups, the ideal time to get aggressive.
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