Wednesday, June 16, 2010
S&P Uptrend Weakening; At Least a Short Term Pullback Coming
The market rally is looking very "labored" at this point and momentum divergences are showing it as well (see RSI in above chart). Although the timing of the pullback is in question, I added to my short position a few minutes ago in trying to catch at least a short term pullback.
PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.