What we'll be looking for is a floor in the pullback to go long FAS as well as other equities on signs of the pullback starting to dissipate, but for now, 1 bridge at a time.
Tuesday, June 14, 2011
Keep an eye on FAS
FAS seems to be leading the start of a pullback, the SPY shouldn't be far behind.
FAS broke the triangle support line, and as of now the two intraday support levels below it.
Here's the 5 min negative divergence.
What we'll be looking for is a floor in the pullback to go long FAS as well as other equities on signs of the pullback starting to dissipate, but for now, 1 bridge at a time.
What we'll be looking for is a floor in the pullback to go long FAS as well as other equities on signs of the pullback starting to dissipate, but for now, 1 bridge at a time.
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