Tuesday, June 8, 2010
Bounce to 1067
I am giving this rally room to go up to 1067. There was no capitulation whatsoever so this touch of 1042 will only be temporary bottom. In fact, instead of price, time might be a better indicator of when to sell. The close today or mid day tomorrow should be the short term top and then we'll go lower to break 1040 and get to 1020. The selloff has terminal velocity and nothing but capitulation will stop it at this point.
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3 comments:
So are you trading this market or just posting daily market guesses?
The Nasdaq has a good looking double bottom.
I am trading the market, but taking small positions until I see a very good setup. I am looking to short rallies.
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