Thursday, March 25, 2010

SPY is a puzzle (or a mystery)

Which indicates it may not be trade-able here. Last week, we correctly indicated a Wave 3 and now is into a flattish Wave 4. This could churn going into Wave 5. The other scenario is Trader Vic 2b if it breaks below 115 with volume. The danger is that shorts could get trapped below 115, so be careful.

Sectors may be more prudent here than attempting to trade broad indices.

1 comment:

  1. Its so very hard to pick a bottom on a stock much harder than picking a top.