Wednesday, May 30, 2007

Holding at 1510

We actually opened up at 1510 and held that and went up close to our green line on the first 15m bar. The second 15m closed above the GREEN line (uptrend on the 15m) we talked about yesterday so bias thus far is sideways to up. Next key trendline to watch is the BLUE downtrend line of the 15m. If we can break and then hold above 1517.50, we might look for a first target of 1521.50. If we can't break above the BLUE than I'd look for 1510 to support again. Notice that this morning we did not close a body below yesterday's bottoming tails.

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