Monday, March 26, 2012

The correction is over

The short term TRIN indicator is back into the buy zone, while the market gaps up after being bought on Friday. 
This means that the correction on the ES daily chart has only been 27 points long despite the market hitting monthly resistance or being up 22% since November. 

I think the most pessimistic scenario right now is a range here between 1380-1410 followed by a rise to 1450.

I will be looking for an opportunity to buy this week and hold until the employment report next Friday.


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