Market seems to be vulnerable in the coming weeks for a sharp move.
Recent breadth and other measurements suggest a reversal is near.
In case this analysis proved to be wrong as S&P500 will move north above 970, then most chances that the down trend is done.
Good trading
Sunday, June 28, 2009
Market update
Wednesday, June 17, 2009
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The updates include not only indices but forex and other commodities (i.e. Gold).
Stay tuned...
Friday, June 5, 2009
Closed position
A short @ 946 was triggered as of 02/06/09 , with a stop at 976.
In order not to let winner into a loser after market was visiting 923 ,the stop was
moved to 944 and today we got stopped out. So trade is +2 points.
Good trading
Wednesday, June 3, 2009
Market update
As I suspected the market couldn't breakdown 880 and rose above 940 area.
At the moment , things are very shaky.
We are in extreme situation where usually market reverse and start the down move.
On the other hand , this is a bear rally which can lead to a trend change !
I lean on the downside but the current environment is not suitable for trading the both sides , till we get a real clue of where market is headed. That would be for a start a close below 920.
The USD index is very close to reverse and that may help the market to reverse but you can never rely on correlations like this as they can stop "working" at some time.
Good trading
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