im looking at the Nasdaq futures right now...it shows an obvious downtrend but looks like its not breaking down lower...would you guys be getting long right now even though the general trend is down in hopes that this is a trend reversal and not short coverings?
IMO - General rule of thumb....DON'T FIGHT THE TREND! You might go long now and make money but over the long run it has proven unwise to act on such theory.