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Tuesday, November 23, 2010

breached

The Lower Median Line of our Pitchfork was breached today, while the 50-day lies just below (as an aside, price opened RIGHT ON the midpoint of a previous 2x-bar)

Also got a First Cross Sell signal.  Caution is warranted at this point as the slow line has yet to follow-through and go negative.

Intraday, we opened on the aforementioned 2x-bar midpoint, while the lows today were made on the confluence of a 50% extension off of yesterday's range and a 50% extension of the PDC to today's Open:

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