Will be watching MGM, WYNN and RIMM tomorrow.
MGM had a strong day today and looks like it may be breaking out of a long-running Inverse Head & Shoulders pattern. Of particular interest is the surge in volume coming in at the sub-$9 level (a hint of possible accumulation).
WYNN set up a base later this afternoon and is approaching a long-running resistance level.RIMM went sideways all day long, putting in an NR7 candle. While the daily looks like a small bull flag that's resting on that "W" apex.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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