From a psychological perspective, I rarely feel comfortable fading the market at "A" in the above chart. All indicators are green, and I'm not sure what the market is going to do going into the bond market close. I feel more comfortable fading the move at "B", since the market has made a lower pivot low. However, the indicators are still green, but it is not uncommon for the market to reverse after 1500 ET. I like the fade at "C", since the market has been bouncing off the 901.50 area all afternoon, and the indicators are still green. I feel more comfortable with that fade than the others.
What will the market do next?
Charles
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