Tuesday, May 25, 2010

A few charts

At this point we should see a lot of buying as this is our downtrend reversal point

This 1 min chart suggests early weakness, but every other chart is positive, so the weakness should be short lived, but for new members, it may offer an opportunity to get long. As I've said, 2 of the Ultra/3x ETFs is enough exposure, 1 should be market representative (QLD, UWM, etc) and the other financial (SKF/FAS). Don't panic if we see early weakness, you know now that it is likely, but also likely short in duration.

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