Thursday, June 14, 2007

ICE ice baby

Here's a set-up I've been keeping my eye on for the past week. Intercontinental Exchange Inc. (ICE) has drawn out a cup w/ handle pattern for the past few months.
It had some nice growth in the morning (that's what she said), corrected early in the afternoon, and printed a hammer-esque 13th/14th bar.
Snapping Fib. lines from the intra-day high to yesterday's low gave a 38.2% target that was hit and consolidated around before deflating a little towards end-of-day.

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