Friday, January 29, 2010

Stair Steps Up, Elevetors Down

These are the words that come to my mind right now.

The past 2 weeks, the up days have been on low volume(making them very difficult to play). The up days are sloppy and choppy in nature with lots of hesitation(random spiking intra day, no strong intra day trends).
The down days are ruthless, sharp, crisp and aggressive on bigger volume(movement with confidence). In my opinion, it's not safe to declare victory for the bulls yet. THIS DOES NOT MEAN THAT WE CANNOT RUN SOME MORE! THIS IS NOT A SELL SIGNAL EITHER. I am going to stay patient and sit patiently until i see more tradeable patterns.

1 comment:

gamingthemarket said...

So much for one year linear regression lows! It looks like the indicies are trumping those setups. A full one sigma move for the S&P sits around 1035 as the one year low. The /DX is at a one year LR high right now. So will it be the dollar or equities that define a reversal this time...

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