The Bonddad Blog
Still nerdy after all these years
Monday, November 16, 2009
A.) Prices opened with a gap higher on good volume.
B.) Prices found support along various EMAs
C.) Prices broke through support and had increasing volume on the sell-off.
D.) Prices found support at the 200 day EMA.
Ideally, we'd like to see prices hold levels into the close as a sign of strength. When we see sell-off from gains on an intra-day basis it says traders are skittish about keeping positions overnight.