Enter 1/2 Long RUT 832 Area

nervous about VIX setting up for a real move higher, and other things. will try to manage risk here for 1-3 day trade

It has been a whipsaw but I just have a sell signal on RUT.

It has been a whipsaw but I just have a sell signal on RUT.

Yeah, there are a lot of bad things going on out there. This afternoon definitely didn't feel like any kind of bottom. Don't want that VIX to start traveling up to +2 on the BB and start riding it up or worse, blow off.

My weekly has been on a sale for some time, and I don't think we get any type of real bottom until we see some positive divergence play out. Right now we still have some negative divergence as we have for some time. My first weekly target for a bottom is 740.




But I am trading a shorter term system off a 45 minute chart. It went to buy late this afternoon. Often will gap against you when trading it, but often gaps your way. Simply no way to tell. It usually provides an exit near the entry point within 3 days even if you end up taking a losing trade.

I said last night when futures had gapped down, in that tread that the mods removed,that I wasn't particularly bearish even if we gapped hard down, that I though it was mostly shake the longs.

Vic, Last night I said to buy the futures as well. I bought SPY at 133.4 and sold 0.75% higher today. But, today the signals changed. The breadth has gone down but the indices didn't go as much, that is negative divergence which will impact the next day and after.

As an example, check the cumulative NYAD http://www.traders-t...howtopic=132258 the 1st post

Edited by DrSP, 25 July 2011 - 08:22 PM.

Vic, My RUT is still in sell. But, Euro broke out of the channel, I have a bullish case for Euro. Signals are mixed which I don't like, so I closed my sell for 0.7% gain. Euro is the leader, so I am more prone to being a bull. I don't have any open positions.

Vic, Any bounce here would be a gift to the shorts as all my indicators are on sell. I reviewed all charts and Euro bounce could be a big fake. I have no positions, I would like to enter short tomorrow. Looking forward to the market bounce....