I say you are early with that short Vimal ---maybe 8-10 SPX
points early.
Looks to me very much like this is going to be a 5th wave of the
rally started last week. Expect a double top , a slightly higher
high, though a truncated wave 5 would work too., and confuse most
of us!!
We should see even more negative divergence than we already
had.
Hint the 15 min 144 sto never broke 80 yesterday, that will be a
clue that a decline with some kind of legs is in the works.
i am seeing such a struggle to gain ground and the downtrend
line is providing some solid resistance and then the 100dma at just
over 1104 etc etc etc, I am losing confidence this market can
achieve a newer high and may just fail to do so....
...so I am walking away till later because it is gonna take so
time to work itself out here.
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shorted early?
ES 60 (Update)
Posted by perthx on 8th of Sep 2010 at 10:21 am
I say you are early with that short Vimal ---maybe 8-10 SPX points early.
Looks to me very much like this is going to be a 5th wave of the rally started last week. Expect a double top , a slightly higher high, though a truncated wave 5 would work too., and confuse most of us!!
We should see even more negative divergence than we already had.
Hint the 15 min 144 sto never broke 80 yesterday, that will be a clue that a decline with some kind of legs is in the works.
Of course I could be wrong and probably am!
perthx -- I tend to
Posted by Michael on 8th of Sep 2010 at 10:35 am
perthx -- I tend to agree. I have initial short positions but am still hoping for a move up to next resistance.
lets see. Unfortunately my system
Posted by vimal on 8th of Sep 2010 at 10:40 am
lets see. Unfortunately my system won't time it perfectly every time but at 1098 I am offside by 3points at present. Early days!
may be excellent entry
Posted by perthx on 8th of Sep 2010 at 10:46 am
i am seeing such a struggle to gain ground and the downtrend line is providing some solid resistance and then the 100dma at just over 1104 etc etc etc, I am losing confidence this market can achieve a newer high and may just fail to do so....
...so I am walking away till later because it is gonna take so time to work itself out here.