We discuss today’s market action as the S&P bounced against resistance at 1370 before selling off and closing at its lows of the session, at 1351. The market was led lower by financial stocks. Oil held support all day ahead of tomorrow’s inventory report. Tomorrow, we will also hear earnings form Morgan Stanley before the bell.
I think rimm might be going to try to form the WV , inverse head and shoulders pattern first, and then maybe shoot higher.
Hi Idan, you prediction is based on hourly chart over 10 days? RIMM looks ready to take some profit which may be the left leg of “V” in the potential WV pattern. -Jack
yes exactly, that’s what i’m refering too maybe a fall to the 142 moving average support level and then a shoot higher.
i mean the 139-140 support level