Monday, March 14, 2011

Breakdown!

As I mentioned over the weekend this market is looking heavy and the floor was getting attacked over and over and finally it gave way today. Personally I would not short  this initial move because we will get one more test of the 50dma and thats when I put on the short. There is usually a (denial) move back up to the 50dma.
This is the market I want to go long but I need that MACD much lower.
Waiting for the MACD to get even lower, like last summer.

No comments:

Post a Comment