Tuesday, July 13, 2010

Current Scenario - Still short since ES 1070.5

Nothing really changed as you can see from the chart above, even with today's rally attempt. We in fact have even more confirmation on the next move down. A clear negative divergence. Also, if you see, spx is just trying to test the broken TL on the sub-chart above.
We either go down today or at most start the down cycle tomorrow.



  1. Stochastics are showing near oversold though. Plus negative divergence may still last another 30+ points as it did in the past. I hope it won't.

  2. I am holding all of my ES for 1000 or below and we will reach there sooner than others think. As you can see, we have given up almost all of the gains from Intel fake numbers from yesterday.

    Hang in there for "the ride". :-)