The U.S. Stock Market for once had a nice and quiet day today, trading within its narrowest range since the shortened post Thanksgiving Day session. Otherwise, this was the narrowest trading range since November 3rd. Overall, it was a choppy session, as traders focused on the potential automaker bail out bill. The House of Representatives is voting on one measure this evening. However, the bill may be stalled in the Senate where Republicans seemed to have been kept out of the loop.
The market seems to be digesting its gains of Friday and Monday rather nicely, and I would not be surprised by another surge upward in the next day or two.
Today's big directional move for daytraders was in CHK. The chart is below. This is a textbook example of buying an opening range breakout and holding until the close.
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