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Thursday, May 6, 2010

Thursday 5/6/10 wrap up

Don't know what you can say about today except whoofta!
In this kind of market indicators become almost useless. Trading gets driven 99% by emotion and traditional things like RSI, Stochastics and so on become meaningless.  To an extent the Vindicator is the same.  However, two things I want to point out: first, the Sell line on the Buy/Sell moved above the Buy line Monday and pretty much kept trending upwards right into this morning, where it accelerated along with everything else; second, the 5 minute V Stoch gave a sell signal when it topped out around 11:30 CST this morning.  I actually considered taking that signal on a day trade basis, another woulda coulda shoulda.  One thing I see here is that the 5 minute V Stoch is the place to be in a fast market, if you'll notice it threw a buy signal around 1:30 PM CST, the market bottomed around 1:45.