Thursday, December 29, 2011

LONG BIAS FAVORED: MKT TRIES BO-10 12/29/11

QUICK NOTES:

Longs were favored today.  Early traders saw opportunity at the Mid BOT and EMA (1248) at the open for rather quick +2 and +3 trades.  PA quickly push higher and had a test of the L-BOT by B4.

 PA rose again to hit BO-5 and reversed back to support at 1251-1251.5.  PA continued to test the channel extremes as bullishness remained in control.

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