I think we could start to move higher in April and then have a sharp pullback in May, before moving higher again ....
..now whether we reach new highs that's any area in which some markets probably will and others probably won't.
Here is the Daily Chart for the RUT
I note it is still on a buy.
However as professional,.. I decided to trade in between the daily buy / sell crossover this week, exiting my Longs on Monday,
and then Flipping short..... just to exit 75% shorts on Friday for a little extra green.
The reason for all that movement was....we were overbought..on the short term so I exited and flipped.
The reason for looking to exit my last % of shorts Monday is because we are still on a daily buy signal..even a 1st grader can
see we have multiple exit signals for any shorts in the RUT.
1. We have an INV H&S,, 2. we also have a trend line break..with another propulsions trend line just above.
3. we also have a divergence,..looking for at least these 3 signals is what I used to teach day traders...professional day traders at that,..to look for as when to exit shorts
during their trading time frame.
For the Dow and S&P the charts all look exactly alike...the NAS daily is also very similar and shown below
Edited by Mr Dev, 30 March 2008 - 01:57 PM.
