A Likely Conclusion In The Short-Term To Several Weeks Of a Bearish Bias? 240 Minute TD Sequential buy Setups Among Others Suggest The Possibility
Aaron Armstrong, June, 11, 2008
It was very difficult to start taking a short bias several weeks ago when the indexes were becoming overbought, recording TD Sequential and TD Combo sell Setups and Countdowns on a number of different time frames (time frame synchronization) including the impending weekly sell Setups but it was the odds-on trade to take even if it didn't work. Thankfully for me it did work. Aside from a few days here and there over that time I have felt very comfortable with a long/short strategy, long selected energy and commodity stocks and short the indexes, it's a strategy that pushed the account to new all-time highs over that period and in today's sell-off. However, I am now looking at market structures that suggest we may be very close to a natural conclusion in the short-term to many of those bearish bias trades. That's what I want to look at this evening. I currently have exposure to SDS and SKF, the UltraShort ETF's for the S&P 500 and Financials, other than that I don't have much in the way of meaningful exposure. I took profits on both those short exposure positions today in part and will probably continue to do so as per the market structures on the charts below: The Charts
Hope it helps. I'll see what tomorrow and the next few days bring and update my exposure and any trades as necessary in the Trading Diary.
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