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Monday, January 30, 2012

Monday, 1/30/12 update


Sell signal on the ES overnight and on SPX this AM. But we are oversold on very short term momentum indicators on a number of time frames and from a number of different standpoints, so a short trade right here is riskier than waiting for a bounce IMHO. Of course, momentum indicators can go oversold/overbought and just stay there while the market runs, but I (generally) prefer waiting for a retrace.
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