Good Morning, Things went pretty much as what the chart indicated yesterday the Dow did come back and hit its 13 day and 21 day ema. This is very normal, if you look at the Dow chart notice that it does not runaway from the averages for too long. It always comes back. This can serve as a exit strategy for you to take profits, sit on the sidelines until it comes back down and hits the 13 and 21 day ema. The key here is make sure that the Dow shows some consolidation here. You want to make sure that it is not going to continue downward toward its lower support level. Looking the stock charts of my active trades, well they went pretty much as expected. IPG did go down and hit its 13 and 21 day ema. It is my strategy to let it bounce off the averages and let it continue its current upward trend.
As for HCBKs stock chart, it is also doing as I thought it would consolidating at the ema's and it is also down to its support levels, considering the market yesterday this stock performed well, and I am looking to see it start a new uptrend within the next day or two.
I hope all your stock trades are starting a new uptrend today, It would be great to hear how you are doing. Until tomorrow.......Happy Stock Charting!!
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