Tuesday, May 3, 2011

Here comes an intraday reversal in the maret

Think about shorts you might like to get your toes wet in, use strength to do that.

 QQQ 1 min positive

SPY 1 min positive

These have been trending down for a bit, it's natural to see a countertrend move. Also be aware that the market will usually look to sow some seeds of doubt concerning a move down and many traders are anxious to buy that line so if we see a decent move up today, tomorrow, or the next day, don't jump to conclusions. Wall Street wants to keep you guessing.

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