Red I would go long. We've continued to build positive divergences since Wed. I would stay short, but the NYMO isn't off most of the time. It turned up on June 8th even though we made a lower low and we rallied from there. I might night trust MACD or RSI as much, but I think the NYMO divergence is much more reliable and today's the first today it is also diverging.
Yes, I agree with you… the market should rally soon. But, would you go long at these levels… on a Friday? I wouldn't, that's too dangerous. If a big sell off happens today, then yes.
But I believe that most professional traders aren't willing to go long over a weekend, until the market drops lower again.
If we get much higher, I agree with you.
Red I would go long. We've continued to build positive divergences since Wed. I would stay short, but the NYMO isn't off most of the time. It turned up on June 8th even though we made a lower low and we rallied from there. I might night trust MACD or RSI as much, but I think the NYMO divergence is much more reliable and today's the first today it is also diverging.
Keep your eye on the dollar, and the euro (closing now at 11:30am est)
we shall see. Not convinced yet.
Here comes the rally…
The witching hour is almost upon us.
and women's! Even with the indexes being down, my account is barely up. It just sucks.
Yes, I agree with you… the market should rally soon. But, would you go long at these levels… on a Friday? I wouldn't, that's too dangerous. If a big sell off happens today, then yes.
But I believe that most professional traders aren't willing to go long over a weekend, until the market drops lower again.
I'm watching the real-time SPY chart on the NASDAQ website.
Downside volume looks strong and, when it's all said and done, that's usually where it's @.
These are times that try men's souls.
AAPL is very weak and it's key.