I wouldn't let this stop me from entering positions that set up at levels that we were looking for pullbacks to touch, would just keep my stop a bit wider and keep my position size a bit smaller so I can add to the position.
Monday, August 15, 2011
Market Update
The market continues to telegraph a pullback. The QQQ generally looks stronger.
DIA 5 min and the flat trading range so common during distribution.
SPY still shows some strength on the 1 min so t may test the morning highs before puling back (5 min chart)
XLF also showing a flat trading range with a negative divergence,
I wouldn't let this stop me from entering positions that set up at levels that we were looking for pullbacks to touch, would just keep my stop a bit wider and keep my position size a bit smaller so I can add to the position.
I wouldn't let this stop me from entering positions that set up at levels that we were looking for pullbacks to touch, would just keep my stop a bit wider and keep my position size a bit smaller so I can add to the position.
No comments:
Post a Comment