"The Bears Have Run for the Woods."
2D, 10m. - Apr. 21 - Today we had a bounce back from yesterday's market pull back. At 12:20 we thought we had a good trade to the downside but the momentum did not follow through and the Bullish move resumed stopping us out at the Pivot. The market had pulled back from Resistance, the MACD was in decline, and the CCI was turning down. The only negative to the trade was that the Internals were strongly Bullish. It was a good trade that just did not work out and we exercised discipline by taking to the Exit. Notice the "S" Turn Up which is a frequently seen pattern of price movement.
20D, Hourly - Apr. 21 - Bullish channel remains the dominate feature of the recent market action.
3M, Daily - Apr. 21 - Bullish Channel punctured by a shorter term downward trend line. The Bounce today resumes the move to the upside (at least it appears that way). The big pull back on Monday could have been better stabilized by a sideways days today. The quick bounce actually injects some increased uncertainty as to where we go from here. The close today was modestly bullish.
20D, Hourly - Apr. 21 - Bullish channel remains the dominate feature of the recent market action. 
3M, Daily - Apr. 21 - Bullish Channel punctured by a shorter term downward trend line. The Bounce today resumes the move to the upside (at least it appears that way). The big pull back on Monday could have been better stabilized by a sideways days today. The quick bounce actually injects some increased uncertainty as to where we go from here. The close today was modestly bullish.
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