Around noon ET, the Futures made a new high, but IBM and JPM did not. Also, there was a $TICK bear divergence all occurring near the S1 resistance level. Aggressive traders may short at the divergence. A less agressive move is to wait for a lower pivot low followed by a short $TICK correction back to its upper Bollinger Band, at which point, the trader will short the market. If the market is truly reversing, the market should not revisit the pivot high. When the $TICK comes near its upper band, the correction should be over. Thus the potential loss is small compared to the potential gain.
Charles
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