Thanks Rav, good to see a little pull back today. The market was getting a little extended I think.
While the weekly reversals were not perfect, both are interesting, and there is no doubt some element of support is there in both.
QMN did see some serious supply come in on that last upbar, which may cause ongoing issues if price begins to push higher again.
and ELX had been in a mid term downtrend before those two upbars a week ago, which may resume if support is challenged.
maybe I am getting a bit soft, as all the potential reversals have been rejected lately......
Three new stocks stood up on the previous breakouts today
NOX and MRR look OK
RMX might need a little pull back after such a strong push today.
Finally, I thought I should post up the results of the first week of the new selection criteria for the previous breakout selections.
I marked a line at the high of the selection bar.
Didn't turn out too bad really, it wasn't looking too great after the second day - while a few pulled back - but almost all have pushed away now, which is good.
cheers Rav, have a good weekend in paradise (I am very lucky....I'm going to a 6yo birthday party tomorrow......with 26 little 6 year olds invited....yippeee)
