Swing Top Signaled Shallow Correction Expected ES 1210

Autobottrading.com’s Advance Decline Indicator crossed down at overbought levels this morning, signaling that there will be a sharp corrective move lower in next two days. There is no doubt this bullish move higher is powerful, so for most, shorting the index’s or individual equities presently is dangerous unless one can trade intra day and is very nimble. But the signal does offer swing traders holding longs the opportunity to sell a part of their holdings into strength or hedging positions with options.

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Or, do nothing and let the market work itself higher. These are not normal times and technical indicators have been recklessly ignored by the markets as the institutions race for the roses this year. Somethings you just can't fight. Let it happen, Islander