Thursday, February 11, 2010

Market Talk

Trend-line breaks worked well today but if you're looking for continuation you will have to be patient.

PCX found support on the 100 SMA, broke trend-line today for a nice move. But look at what's ahead in terms of resistance: 50 SMA, 20 SMA and lots of daily congestion. Nevertheless still bullish -- if you're a swing trader this is a hold with stop on today's lows.