The flag is not very tight. usually the tigher the better for the breakout.
HNP
The flag is not very tight. usually the tigher the better for the breakout.
INDU, SPX and RUT pose for breakout, but QQQQ is still in the woods
INDU, SPX and RUT all pose for breakout. INDU will probably test 11,000, while QQQQ is not out of woods yet.
LU and HNP
LU bounced back from low of 3.12. It has broken the resistence at SMA 20, which it had done last month but failed to folllow through. The next resistence is the downtrend line overhead, roughly at 3.5.
Since HNP broke down from the triangle and formed a double bottom, it has rallied back the breaking point 30. There is one point of room for it to go higher before reaching the downtrend line formed since last Sep. It does not hurt to take some money off the table now.
Latest Order Entry Software for TWS
Here’s the latest innovation on order entry for active traders. It’s based on the concept we published last year. See the sketch shown below.
