02 September 2011

SP500 : Timing the Turn (Trying!)

  • Monthly and Weekly charts indicate current rally is a retracement of the over-riding downtrend.
  • Daily : Big bear flag. Yesterday's price action is first indication of a possible turn back down for trend resumption.
  • Trade : Short ESZ1 at cash equivalent average price of 1208.

1 comment:

TradeDemon said...

have to keep an open mind here for market reaction to low non-farm private payrolls, one of those opposite reactions ... regardless I'm locked and loaded ....