Monday, October 5, 2009

Today's Markets

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A.) Prices opened higher on strong volume but couldn't maintain the upward momentum. Prices fell to the 50 minute EMA.

B.) Prices get just beyond the 200 minute EMA and then fall back in a downward sloping pennant pattern. Prices find support at the 20 minute EMA.

C.) Prices move through the 200 minute EMA and then consolidate sideways eventually finding support at the upward sloping trendline.

D.) Prices move through resistance on a volume spike, rally a bit and then move lower in a disciplined, downward sloping channel.