Friday, July 9, 2010

Pretty much as expected...

The market sold mildly and then closed solidly on very low volume. This resulted in short position additions at the close. Ideally there would be more follow through tomorrow, though I am not anticipating much, which would hopefully get systems shorter. So far the Russell Swing Futures System has not triggered short but will likely do so tomorrow if the market does have some upside. This would certainly be a powerful signal. I would like to state for the record that given the internals I am seeing, there is potential for tremendous weakness in addition to a large volume of reversal or loss of momentum candles in stocks and index ETF's.
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