The pattern is holding for now. So far so good, but I would have like to see a low set in on this morning’s open, then the reverse. We will find out in a couple of days for sure. For the pattern to reverse and slow this decline, we will need to break the outside downtrend line. Time will tell. 

Today I only traded a little in simulator mode. I am waiting for the institutional players to come back into the market. Today it actually looked like that happened, but I was set on waiting until at least  Wednesday to get back in. I have a few charts posted below of some of my trades with a equity chart of the profit. This is after commission. Trading with 1 and 2 contracts only. I will post again tomorrow.

Bye for now. Vince

http://www.screencast.com/t/zNQPNSB7

http://www.screencast.com/t/CmJpl0NzL

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Tags: Chart Patterns, holding pattern