Dear readers, despite the Dow dropping almost 300 points on Friday, the market is still stuck in a range. If this range holds, then it should be bouncing off the bottom channel of the trading range next week. However, if we failed to hold this level and closed below the low of this range, then we could possibly see further downside for stocks. Friday was a good opportunity for range traders to initiate their short term position.
S&P500
General Electric - Range bound between $15 and $16.50. Time to buy the bottom of the trading range on Friday.
Century Aluminum - Range bound in an ascending triangle formation.
AIG - Looking surprising good and its in the midst of forming an ascending triangle amid all the doom and gloom in the market.
S&P500
General Electric - Range bound between $15 and $16.50. Time to buy the bottom of the trading range on Friday.
Century Aluminum - Range bound in an ascending triangle formation.
AIG - Looking surprising good and its in the midst of forming an ascending triangle amid all the doom and gloom in the market.
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