"Like a Genie Out of the Lamp, the Market Maintains Momentum!"
2D, 10m. - Apr. 6 - Today's session was spent mostly in the Devil's Den which is usually associated with turbulence and intraday reversals. Today was no exception to that observation. The Internals were weak and yet the market behaved with incredible strength even though the morning was characterized by a down trending market. The afternoon session was very different. Notice all the Tall White Candles which emphasize the bullish nature of the afternoon activity. The Channels tell a picture story of today's market behavior.
10D, 60m. - Apr. 6 - The Bull Potato survived a day of weak internals and was saved by an afternoon rally during which the Bear were chased into the woods. The market ended above the 10D Moving Average which preserved the technical requirement for a Bull Potato. Again the perilous nature of the Devil's Den is mentioned.
3M, Daily - Apr. 6 - The Trend Continues to be Your Friend. The Bull prevails on the longer term chart as well. In spite of general economic problems the market seems to anticipate better times are ahead.
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