The market started well hoping in a bounce, but the bears had others plans and major indices crashed in the last two hours of trading. The volume increased on the move in a typical "free-fall" action. The T2108 chart is still acting well above the 20 Mark, this means that the market could still have some "space" to go. Daytrading was profitable in the last few days and there are no reasons to change attitude now. In fact, light positions and tight stops worked well so far.
Here an interesting chart:
Northern Dynasty Minerals
(NAK)
printed new all-time highs last July. The stock dropped like a rock immediately after it and found support three weeks later around the whole number $9. NAK regained some steam and is moving sideways in a cup & handle pattern since October. A breakout could bring the stock to rally to the previous highs.
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