Friday, May 28, 2010

Update and Overview

I wanted to point out that most of the systems are looking short - all have sold their long positions and some have already begun short positions on this rally. Unlike previous rallies off of selloffs this one is setting up short so far for the systems...just a word of caution regarding having too much optimism relating to this market.

We have touched logical resistance, returned and so far found resistance at the mean zone and the Trend following analytics have turned to favor short.

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