Tuesday, January 12, 2010

Today's Market

A.) Prices retreated to the top upward sloping trend line on higher volume.

A.) Prices retreated but are still within the ascending triangle pattern. Note the 10 day EMA has curved lower, but not in a fatally bad move.

A.) Prices are resting right above technical support.

All of these charts have the same common pattern: prices have moved lower and are either at technical support or are contained within a pattern.