Market Still in UpTrend

Oct 21st, 2010

Even though the market had a move down today the market is still in a uptrend and this move down was calculated and it is normal market conditions. This is where we do not let one day change our outlook unless we break the pattern and today we did not break any bullish patterns we actually just completed one.

This is a chart for the NQ today. We had blue bars at the low of the day right at the bigger 3 day pattern. The TF made a double bottom when the ES and NQ held the support target. This is why we always use all three markets to confirm each other.

Happy Trading,

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