Posted Tuesday, May 4, 2010 @ 10:07 pm by Dr. Wish
Short-term Indicators break down
Time for me to be very defensive, in cash or short. T2108 down to 50%. I prefer, however, to wait for one more negative day before I start the beginning of a short term down-trend in the QQQQ. QQQQ longer term (weekly) up-trend still intact.
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Comments ( 2 )
joseph added these pithy words on Wed, 5-5-10 at 10:00 pmBUt the market turned down abt 5 days ago, and only now your short term trend showed it??? by now the short term down tren is old news!!!
Dr. Wish added these pithy words on Wed, 5-5-10 at 11:41 pmI am not a day trader. Trend followers only identify a trend after it has begun. Before today, I would be much more likely to be whipsawed. After Wednesday’s decline I am more sure of a new short term down-trend. I want to ride trends that last weeks, not a few days.
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