Today we managed to turn around at the end of the day to close below yesterdays high. This is good for the bears. I think we shall continue to sell through this 20 period sma. The big bear candle on the 20th is what I continue to watch. Right now the market is consolidation, for the next move which should be lower. The market today gave us and opportunity to exit longs as it was hovering around 860 all day till the end. I personally stepped out of the rest of my traded position in uyg. I continue to hold 50% cash and my dxd.
DXD today came back at the end of the day as the markets sold hard. Look at that high volume spike at the end of the day as dxd came off the double bottom. Still holding this right now and will continue. Looking for a close above 58.10 for a nice bullish sign.
No comments:
Post a Comment