Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 689.46

-0.9%

4:00 PM EST

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To: Bald Eagle who wrote (24411)	3/15/2002 3:51:53 PM
From: sean sanders	Read Replies (1) of 39683

Well things are looking a bit glum now ... the only thing we have going for us is that the 15 min candles look like hammers now; the 60 min could just turn out to be a flag. Not much supporting us now until we hit 11; I have some mild support where we are at right now. Something was pushing us down quite good; basically we had nice volume on this upmove we have had the previous few days; then the buyers dried up and decreased volume took us though a h&s and took apart the desc wedge that was forming. If we hit 11 looks like we are more of in a horizontal channel then any kind of uptrend. 11.2 is somewhat of a support a gap that could be filled ... I'm still in it right now; things dont look that positive. I probably wont exit today; I'll wait to see what monday looks like after the first 30 mins. Sean

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