Friday, May 31, 2013

Recap 5/31/2013 - Short term bearish

We've been seeing some weakness on the daily candles for the peak bearish reversal bar near ~1780. Today was a bearish close, the daily bar closed below short term support and it seems we have more downside in the short term. Near term target is about 1.5% lower down to support line drawn on chart around ~1595.



Wednesday, May 29, 2013

HPQ near term target 29.21



Was looking at HPQ since is bounce from the dismal lows. Seems the measured move target and the resistance make a confluence target around 29.21. I'm guessing this is reachable here.



Also, I've been using www.tradingview.com and its a good charting system, unfortunately uses javascript but works both on Linux and windows.