Tuesday, May 10, 2011


won't be available this morning to post intraday bias

I "invalidated" the T too soon. The midpoint was 12:45 AM. By 11:30 AM, MFI was near a low, so I assumed an hour was not enough for MFI to make a new high. Within an hour, the market staged a powerful, unusually high volume rally that brought MFI to a new high! Boy did I feel foolish. I'll show a chart and explanation later.

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