Thursday, August 12, 2010

The bears are loose again...

The bullish scenario has been hammered the past couple days in a very unhealthy way.  Rallies should be sold or shorted.  My system is still in the market, but won't be for long as I suspect a downward cross of the the EMA lines will occur shortly. Hopefully, when that happens the market will have rallied a bit (a la May 12) so I can get out for a better price.  I see the market going to anywhere between 900 to 1030 sooner than later.   On the bright side, there are some massive gaps up above.  A major bradley turn date was 8/10 which I dismissed at the time.  Oops. 

I'm always wrong with predictions, but I'll give it a shot anyway...

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