Sunday, June 9, 2013

Looking Good

SPX closed slightly above its Primary Downtrend Line (thick black). That's is very bullish, especially since the number new lows dramatically dropped.  I think we are on our way to take out recent highs in indices.

I didn't do my buying at 1600 as I had planned. I am going to wait for a back test of Downtrend Line and do my 2nd buy then, early this week hopefully.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.