Update WFR - 30 minute chart

After today unanticipated rally I decided to sell more shares of WFR short at $59.35. Apparently, shares responded to analyst's comments about WFR's 300 millimeter scrap wafers. That being said, I am not going to get into the ridiculousness of his comments, or the awkward timing since it has little relevance to the charting landscape.

However I did take the opportunity to short additional shares, which if the double top holds should amount to a respectable gain. At this point I am underwater some 3% and will be watching closely tomorrow for a high volume break through resistance at $60.00. If this happens I will be forces to cover, however if the rally loses steam and fails to test/break resistance at $60.00 the stock should trend lower and test support at $57.00.

Given the diminished volume of today's rally and the weakening MACD histogram, the subsequential action today and tomorrow could be attributed to the final stages of a post sell-off bounce.

Tomorrow I am looking for the stock to rally in early trading, eventually fail and end the day in negative territory.