I never believe what I see with a dip down all alone, by itself.
< I always look at past support 1st to see if there is any
or if it has now formed a double or multiple bottom.
like the U.S Indexes had but still kept a down channel
above that.
I will wait to see what forms up next.
< Or get out if I don't know at all what is going on.
If a down channel forms you watch what happens
at its upper limits (resistance). If it works a full day
outside that channel, it is probably ok.
Which is what you see here on the Dow @ 24,600
the slope line going downward stops right there.
$DJIA $24,831
FUSZ has a previous low = support.
If it bounces up here = buy (and see)
If it drops further look out below and start all over.
Something is wrong.
FUSZ $0.95
< If a dip is nothing but a simple down move
on an up channel, buy that sucker. And see.
$SMRT $1.50
< I always look at past support 1st to see if there is any
or if it has now formed a double or multiple bottom.
like the U.S Indexes had but still kept a down channel
above that.
I will wait to see what forms up next.
< Or get out if I don't know at all what is going on.
If a down channel forms you watch what happens
at its upper limits (resistance). If it works a full day
outside that channel, it is probably ok.
Which is what you see here on the Dow @ 24,600
the slope line going downward stops right there.
$DJIA $24,831
FUSZ has a previous low = support.
If it bounces up here = buy (and see)
If it drops further look out below and start all over.
Something is wrong.
FUSZ $0.95
< If a dip is nothing but a simple down move
on an up channel, buy that sucker. And see.
$SMRT $1.50
