Monday, November 8, 2010

Monday

here's what I'm seeing as critical areas today.
76ish and 85 ish will be the telling zone...we're opening below Friday's Center; there ought to be initial support off Friday Low with an attempt at a gap fill. Since we're up here, there's always the 2200 test in the back of traders minds...Friday high is first step towards that possibility. A significant break or strong momentum heading towards/thru Friday low can result in a freefall down to 64 ish I'm guessing...there's 15 min trendline support around there.any retest of Friday low after a break could be an excellent entry.
Friday and Thursday were pretty choppy, so unless you can get the extremes of the chop zones, the name of the game may be taking base hits.I'd still consider 84 to be the center of chop suey. Friday was an NR7, so that could portend a spike today.


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