After today's action it seem to confirm we are in a stealth bull flag on the S&P. One of the reason I have been not so readily to jump on the short side is I believe we will see higher prices but also we are above the 200EMA, which leave me on the side of being long. Now we were looking like a lower high formation could be formed but from this stealth bull flag arising I am feeling like we wont get to test the lower boundaries of the last pullback.
The market is very fluid with all the international news etc so it is prudent to play small if you do.
Wednesday, March 23, 2011
1255
Ok after doing some work it looks like that's where the market wants to test. At that level I will be a buyers 1/3 size as I expect it to ramp up to new highs into the time projections I have spoken about before- I will more than likely pic on the oil services like XOM and tech like Apple when we get to those level.
We will see soon enough better to take it slow here as we are barely moving.
We will see soon enough better to take it slow here as we are barely moving.
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