Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.         All About Trends  Weekend Newsletter  December 4, 2011       Here we are fast approaching the end of the year. All of which makes us wonder just how much holiday cheer we truly have left considering the gap and go’s we’ve just had. At the very least we are extended and as we’ve been saying we need to work that off either in a sideways or in a pullback consolidation — IF we are going higher of course.    At the end of this coming week the EU powers that be are having a summit.  What is interesting about that though is here we are severely stretched to the upside and in need of a consolidation and digestion of gains.  A few days of this COULD be just what the Dr. Pepper ordered in order to reset some short-term technical indicators to oversold like the Full Stohcastics in some 60 minute charts. All in time for the EU shock and awe?. We’ll see.      Speaking of gap and go’s take a look at the charts below.             Much like we’ve seen lately to the downside we are now seeing this to the upside. If you look at the daily chart frequencies you will not see this. This is why we use these micro short term frequency charts, they allow us a zoomed in view of exactly what is going on under the surface.   So what we want to do here is work with what we have till we can see some sort of meaningful pullback that we actually feel comfortable going long on for quick trades and we stress trades only.   In fact odds favor that IF we are to see a digestion/consolidation …