Monday, November 26, 2007

Preliminary Daily Equity Update - 11/26/07 4:30 P.M.

Today was a bit of a blood bath to the downside and I am really quite surprised that I finished the day with under a 2 point total loss. Somebody was looking out for me today!

Anyway, there is a silver lining to this slide today and that is the daily pattern that was formed.

An outside day (Higher High & Lower Low) with a down close.

This is a very bullish pattern and add to the mix the potential Monday/Tuesday reversal pattern and you have a pretty good set-up for a bullish day Tuesday.

The hourly chart also made yet another positive divergence as well.

I will have the full update later in the day or tonight, but I did want to mention the potential with some of the early work I have completed.

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