There are alternate bullish wave counts here, but they are awkward. The biggest factor buttressing the bear case continues to be the lack of volume. The effect is the same whether due to late summer vacations or lack of interest by potential buyers. Volume has picked up marginally in the last two days, but it's still in the tepid area.
Still holding short ES from 1085, adjusted the S&R to 1075 towards the end of the day. The Dyn Osc is poking above the 20 line, but until and unless there is an hourly close above the down trend line (thick blue line on chart) the short position will be maintained (barring an unlikely overnight stop & reverse). Jobs report tomorrow morning, possibly we'll see a strong gap down open to kick off a 3rd of a 3rd down.
hey Apple - looks like your vindicator is doing well.. . Haven't checked in in awhile.. .
ReplyDeleteI'm curious - do you only exit when the vindicator turns for you, or do you exit beforehand and only enter when the vindicator signals ?
Good job holding through this noise though.
Anthem- actually not basing trades off Vindicator per se any longer, instead I've gone back to an old approach of mine called the Trendline/Oscillator system (write up in sidebar to right) and trying to use Vindicator for entry/exit timing of signals generated by Trend/Osc - write up on Trend/Osc is not complete, will flesh it out when I get time
ReplyDeleteWhat a day. Not the jobs report or reaction I was looking for so I basically sat on my hands all day. I remain short and (for now) unhedged until the trend changes. Now, we just have to dodge a GDP report and revision tomorrow.
ReplyDelete