$DE had been trading aboove 69.22 for the last couple days. This was a clear resistance and now support level. On Friday the agricultural products gapped up, again, as represented, for example by $JJG. The sp500 opened with some weakness but $DE gapped up and during the initial morning weakness never went below $69.72 which was still positive for the day. Best of all a clear double bottom was established at 9:58 . Nothing is certain in trading, but all of the above indicated a possible breakout and best of all a clear stop ($69.60 for instance) was established.
Sunday, September 19, 2010
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