http://www.stockrake.com

The bounce wasn’t a surprise.

On a daily basis, we are trading below 50dma’s and underneath 21dmas. The weekly is holding on to its uptrend signals. However, I’m looking for a swap in those this week. At that point, there is a possible long setup. Yes long setup based on sell signals.

Of course we could just setup here for bounce higher based on today’s lovely up day. More people were making more out of it than it was today. I mean we had a 5%+ 2x move on Thursday and we had a 1% 2x move today. I’ll take that ratio anyday.