Wednesday, June 1, 2011

Long based on PRS channels

The PRS channels are the strongest indicators I have.   I am hoping for a little more drop...a final ping off the PRS 177 channel support, for a long.

A tightly watched long.

As we wrote just yesterday.....Of course, US indices rally with Euro, solid correlation.

Amazing how an apparent event, like taking some stress off uncertainty with Greece, will result in a Euro rally.   Surely this can only be a "false rally", a move meant to shake people out of positions.
And the USD gapping down twice, because, huh?   Because Euro-land will print more quickly than USA?

The "Bat wing" can definitely bounce up tomorrow, but it "should resolve downward", so if I do enter long it will be very tenuous.

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Insightful and Useful Comment!