The cash S&P500 soared on Thursday reaching the immediate TD Trend Factor and Fibonacci target. We have now completed (and perfected) a TD Sell Setup. Often times the Sell Setup indicates at least a short term top; but not always. I note here that we do not have a technical “sell” signal (using the RSI and Composite indicators) on the daily chart. We've also easily sliced through TDST resistance at 946. These two facts argue strongly against becoming bearish here. That being said it would be perfectly natural for a pullback to occur.
Friday, 24 July 2009
TD Sell Setup In Place - Time for a Pullback?
The cash S&P500 soared on Thursday reaching the immediate TD Trend Factor and Fibonacci target. We have now completed (and perfected) a TD Sell Setup. Often times the Sell Setup indicates at least a short term top; but not always. I note here that we do not have a technical “sell” signal (using the RSI and Composite indicators) on the daily chart. We've also easily sliced through TDST resistance at 946. These two facts argue strongly against becoming bearish here. That being said it would be perfectly natural for a pullback to occur.
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