Wednesday, October 1, 2008

10/01/2008: Wednesday's Trading

Seems that SPY is seeking out its floor pivot and the Q's are resting on theirs. IWM moved below and is now testing it for resistance (you can see these things on my 10-min charts).

Gold is back up into a consolidation channel and GDX is trying to violate a 10-min descending triangle.

I am watching FINL for a short entry perhaps and the indexes mentioned above.

4 comments:

Zen said...

Well GDX is now back inside the triangle (which is bearish).

Zen said...

well GDX came out of its bearish pattern and rocketed up. I still don't want to play it yet.

SPY 10-min updated with a target. Short entry coming soon.

Zen said...

The VIX looks like it will participate too. See my VIX hourly chart. Trendline test or oversold stoch cross.

Zen said...

GCI is looking like a good short. I will discuss more later. FINL and GCI are on my short radar.