My daily buy signal on May 31 turned out to be a massive whipsaw. With the break of SPX 1311, it's back on a sell. Well, the weekly sell from 5/20 survived by a point. The million dollar question is now whether we can break the 1249 lows or not ? If we do, my system will generate a long term sell signal similar to the one that i posted on this blog when we broke 1370 back in Jan 08. Until 1249 holds, we will have to treat this as a correction in a bull market.
I will update again when the daily flips to a buy.
Good luck trading !
Sunday, June 05, 2011
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