Still Stair Stepping Up
April 26, 2010 by ingrid_mueller
The broad market has been stair stepping up since mid February. We have been waiting for a clear entry point as signified by a new long trigger on the Williams %R.
On Friday, April 16th, it looked as though we might have the beginning of the awaited sell off with a drop of 125 points. Watching to see if Williams %R would descend to -80 or greater.
Instead on Monday the market continued its’ stair stepping pattern. Friday we testd 11,200 on the DJIA.
We have two choices for position or swing trading. Wait for sell-off and a new entry point or if the market consolidates around 11,200 we would enter on a break out with higher volume.
We shall see what the charts tell us this week. In the meantime, review your watch list and create a short list of stocks that are lining up.
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