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Volatile Session Ends Narrowly Mixed
Closing Technical Market Analysis for Thu April 30th 2009
By Harry Boxer, The Technical Trader (www.thetechtrader.com)
The indices certainly had some volatility on Thursday, up sharply in the morning and down sharply in the afternoon, taking back all of the gains and then some, closing mixed on the indices at the end of the day.
The day started out with a big gap up. They ran very sharply in the first half hour to 40 minutes, and then they backed and filled, flagged, and made new highs by mid-morning, and then rolled over, took out support, and went into a 5-wave decline until mid-day when they bounced and did a perfect retracement to resistance that failed, rolled over to new lows, but the S&P 500 held at yesterdayFor more of Harry Boxer, sign up for a FREE 15-Day Trial to his Real-Time Technical Trading Diary. Or sign up for a Free 30-Day Trial to his Top Charts of the Week service.