Tuesday, January 11, 2011

Wednesday's Guideline

Daily trend is still UP.

Tuesday's narrow-range day implies consolidation day, and that a trending move is coming. A large gap-up above prior day high may trigger a trending-up day, hence caution on shorting for gap-close.

I will use 2286 - 2288 as Line-in-the-Sand for Wednesday. I am looking for a gap-up open for short and a gap-down open for long as long as it has a balanced opening.