Point and Figure method - trading journal

So, we survived fiscal cliff death for now... We also survived the Mayan end of the world, we survived the holidays.

Now it is time to start trading again after few weeks of vacation from the markets.

TEX breaks through double top and a previous resistance level.

http://www.paf.am/?di=OFLS
 
We have had a fantastic run in SP500 (which is higher than Nasdaq). We are very much extended from the moving averages, something that cannot go on forever. Traders should note that we are in for a reaction or to be range bound.

There are bullish topics in the air. According to Lipper, funds got inflow of in $18.3 billion first week of trading this year. The 4th largest inflow since January 1992.

We are exactly at the resistance level.


http://www.paf.am/?di=U8UH
 
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