Thursday, September 15, 2011

Watching for a shorting op, but waiting for confirmation or standing aside

Breadth is bullish, but there is divergence setup here on the daily chart. Watching the NASDQ 100 for a test of the 200 day MA, but so far it's fallen short. The NASDAQ Futures did test and actually poke through the daily 200 day, and they are sitting right around there now.

If we test up here and show a volume reversal pattern, I'll be watching to lean against it.

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