Monday, June 7, 2010

Short from 1103 on the ES

The vast majority of medium and long term indicators are bearish.   Don't be deceived.   18 of 20 indicators are bearish.

I am not going to "play cute" and game the limited upside moves.  I added money into my trading accounts to add to shorts based upon breaking these PRS133 channel lines.   Until they are broken, you should expect them to bounce up.  Once broken, I expect them to fall to the next channel line.  The yellow outside 133 channel is expected to be the strongest support.  Questions about the PRS133, use the search box on this blog. 

You can see by the way the index (/ES) moves with respect to the channel lines, that this is a "good channel".

Don't be deceived.   The bull is done, put a fork in him.

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Insightful and Useful Comment!