Tuesday, January 24, 2012

Preparing for What Should Be One Crazy Day

Tonight I'm sharing some potential long setups for tomorrow as this market continues to act very bullish.   Today's dip was bought and every time my numbers get to levels that indicate a shakeout/pullback is close by, we have a slower day that allows those number to drift back to reasonable levels.   That's good and why I am still bullish.   However, tomorrow could be one of the craziest days we've had in a while.   We will likely start off with a big gap off the AAPL earnings, but the Fed comes later and that will likely cause fireworks as well.  I have no clue how everything will play out but just be ready for anything.   I will have no problem going to cash again or adding more longs - use discipline and common sense when considering any setup right now and make sure you use stops.
All Charts from TC2000, Courtesy of Worden Brothers, Inc.

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