2 replies to this topic

[Tor]

It is lookiing like a long tail reversal so far. Took out the highs then reverse back down. It she sticks we go down a fair amount. If she doesnt then lot higher up IMO. Interesting juncture I would say.

[Tor]

Thanks

[Sentient Being]

My guess based on my little broader market indicator is that nothing serious has changed yet. The trend is still up and complacent. Any roll over remains in the larger context of uptrending channel. I am seeing a similar reading here as I did at the beginning of sept when the S&P rolled over and tested the bottom of the channel. It's a bit more of an extreme reading than we've had in the past two weeks, but not enough to say that the nature of the market has changed. My qqqq double position now has a stop at +11.9% and will get taken out of we head for the bottom of the channel. My SPY single position stop is at +4.9%. Wish the rest of my year had gone like these two trades. I have already pulled 5% out of spy earlier in this trend by selling 1/2 of a double positon.