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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

Lousy Eight Grand Bounces

chessNwine Fri Apr 11, 2014 12:03pm EST 7 Comments

Nine…if I’ve had chili..

Know your timeframe for these intraday bounces.

Small caps remain fairly weak on a relative basis today. I am reticent to call a Friday bottom, given the overall action I am seeing. I still maintain this is a legitimate correction, which means nasty surprises are to the downside until we see a real surge in fear.

Let’s see what the afternoon brings.

Drop me your top ideas.

 

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7 comments

  1. rynobolt
    rynobolt
    April 11, 2014 at 12:07 pm

    Seems like the Q’s did a logical bounce right off of the lower bollinger band on the weekly. $IWM also got rejected at its 150 day. Bears still seem to be controlling the tape…..at least for now.

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    • rynobolt
      rynobolt
      April 11, 2014 at 12:23 pm

      And slowly watching $XONE in that downward wedge…..that might take time to play out though. I was able to snipe very small $QQQ this morning off of the weeky bollinger band bounce. Flat as could be right now.

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  2. ironbird
    ironbird
    April 11, 2014 at 12:10 pm

    Need a spike in vol and a final puke. This thing is grinding lower.

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  3. slim
    slim
    April 11, 2014 at 12:25 pm

    TNA bounce #2 pending

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  4. slim
    slim
    April 11, 2014 at 12:28 pm

    Come on PPT, bounce that

    https://www.youtube.com/watch?v=G6mpMQvgoVQ

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  5. Jon
    Jon
    April 11, 2014 at 12:31 pm

    My top ideas :SOXS and ssGM

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