Tuesday, December 7, 2010

PRICE ACTION...WEAK!

Today's price action looked very week. The market should start to sell off a bit, but who knows what the Fed will try to keep it propped up. If we show any buying strength tomorrow, I'd assume we will continue higher. If there is a strong 200 point drop, I'd look at the 1174 area for eventual support. Some bullish patterns I like today...YHOO, BIDU, EBAY, and IBM (with confirmation).

More on Gold:

http://www.tradervibes.com/blog/pattern-stocker/gold

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