ES Journal Archive (2011)

It's oversold but it's downtrending which is why the majority of traders get burned, as it can remain and continue oversold.

Fading strong trends is asking for it.

Much better to let it retrace without having a long position, then at resistance short and repeat the process until shorting resistance no longer works and buying support starts working again.

It's common sense really.

NAD

 

Not disagreeing, the overall pattern calls for more weakness and I would take this only as a trade unless proven otherwise. Short squeezes are just as powerful and fast as sell-offs.

 

http://www.insidestocks.com/momentum.asp

 

scroll to bottom of that page ,when they are all above 70% we are overbought,below 30% ,oversold

 

Downtrending on what timeframe ?


6 weeks ?


On a longer timeframe this is just a correction on a bull, if we retrace more than 10% from high and stay under it then it will be time to get bearish.




I strongly believe there will be a runup to 1380-1400 in the second half until the longer timeframe says otherwise.

 

dont you hate it when goldman is right? =)

 

Doesn't matter who is right as long as you make a profit.

Nin

 

spu11 1305.25 ish soon, methinks.

 

spy...what do ya think vol

 

june es