Friday, August 10, 2012

Which Way Do We Go?

I ended up staying in EDZ yesterday. I was monitoring my market timing tool very closely around 3:45 but it never gave a clear buy or sell. Since the indexes never moved up after 1:00pm, and actually had a weak close, I decided to keep my short position.

I will continue to keep a close eye on things today, looking for some kind of signal, either long or short. If I had to make a prediction I would say we're headed lower next week. We're oversold and one of my indicators is getting very close to a top. Although, it can hang around up there for a while before reversing. That's why the timing tool has a set of indicators that all must switch.

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