Friday, November 13, 2009

Yesterday's Market

A.) Prices moved higher through all the moving averages at the beginning of trading but could not hold the levels

B.) Prices move through all the EMAs printing strong bars and higher volume.

C.) Prices continue to run into resistance at various EMAs

D.) Prices again make a move lower as trading nears the end of the day.

A.) Notice how momentum has been decreasing for the last four months yet prices have been moving higher. Remember -- the MACD measures the difference between two EMAs. So long as that number is positive we're at worst moving sideways.