Friday, November 12, 2010

Time to switch sides?

The trading day is not over but market shows clear signs of weakness and if it holds like this I may sell my shares by the end of the day and probably wait for tomorrow to go short. SPX went bellow 5 days SMA for the first time since the beginning of September.

Nasdaq and Dow look even more bearish. Price is further down bellow 5 days SMA and we have already a bearish EMAs crossing!!!

Let's see how the trading day ends. I'll come with details after the close.

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