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Has been quite a week!
Started the week short, stopped out at 1169, went long, then short, then
finally long at 1173; closed trade this morning at average of 1191.
Rather be flat, watcing in at the final few hours of the week,,,,,
I __may__ enter a partial short position in ESM if market closes with a
rollicking rally above 1195 or so
I expect a day or two down next week before next rally phase to 1210 ESM or so
Regards,
--- Ben <profitok@xxxxxxxxxxxxx> wrote:
> got stopped out of longs at 1188.70
> On a short term basis, our Advancing Issues Model is trending up which is
> positive
> and the Time Trended Indicator is still moving up.
>
> On a longer term basis, the Long Term Model is losing steam to the
> downside. (Chart
> not shown.)
> What this model also doesn't show, is the strength and Selling Pressure
> behind this market
> up move. We always show paid subscribers Selling Pressure, as it is a key
> component in any market move. The higher the selling pressure, the higher
> the distribution
> that is occurring. The lower the selling pressure, the less resistance there
> is in any market
> up move. Not knowing what the market's Selling Pressure is, is like driving
> your car
> and not knowing if the brakes will work.
>
>
>
> As the market moves up, careful thought should be given as to whether a
> Head & Shoulders pattern
> is developing on the Indexes. If that is the case, then indexes like the NYA
> below would rise
> further until it formed a right shoulder and then descend.
>
> Be on guard for any rapid reversal in the coming days. If a Head &
> Shoulders pattern is what
> will be forming, then look at the "LS" (left shoulder label) on the chart and
> note how quickly it
> dropped two days in a row. Those two days erased all the profit from the
> previous 14 days.
> > No virus found in this outgoing message.
> Checked by AVG Anti-Virus.
> Version: 7.0.322 / Virus Database: 266.11.14 - Release Date: 5/20/2005
>
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