[INTRA-DAY ACTION]
Couple of watchlist alerts so far this week;
AAI - Complete chop and stopped at short term $6.75 after entry at $7.
DOV - Channel support area long at $30;
MSFT - Just triggered at $20
IP - Retested entry level at $20 currently long;
SOHU - Hit $51 entry and stopped out shortly after
And this chart on XLY is probably the best treding I've seen lately (30min);
It will be interesting to see what happens here should this make a lower high ($23) and fails to hold $22.
Update later:
Markets starting to look weaker now, watching this for a breakdown - lots of stocks testing prior support as resistance just now, wondering if this is just a sell-off or the end of the bear market rally.
AAI - Complete chop and stopped at short term $6.75 after entry at $7.
DOV - Channel support area long at $30;
MSFT - Just triggered at $20
IP - Retested entry level at $20 currently long;
SOHU - Hit $51 entry and stopped out shortly afterAnd this chart on XLY is probably the best treding I've seen lately (30min);
It will be interesting to see what happens here should this make a lower high ($23) and fails to hold $22.Update later:
Markets starting to look weaker now, watching this for a breakdown - lots of stocks testing prior support as resistance just now, wondering if this is just a sell-off or the end of the bear market rally.
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