Friday, June 18, 2010
ES 1116
ES 1116 = SPX 1121 is a level that is stalling out the market, which is the 50% retracement from the October 2007 high to the March 2009 low. I think it is too late to buy and it is time to start layering in on the short side. A negative is that the crowd still seems skeptical about the rally.
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1 comment:
Everything is overextended to the up side. EEM & EWZ tagged their 200 day SMA. The DAX formed a doji. Selling some longs should be safe here.
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