Despite this afternoon’s bounce higher, I see no reason to reverse sides and go long the averages. The trend has been downward, greed is still alive, and nothing is oversold as of yet. So I’ll stay short the averages a while longer. I see nothing in the charts to change my mind and switch sides. At least not yet.
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@Looneyjoon I understand. I even pointed out in earlier comments that some would trade the volatility but that I was interested only in the major moves. So I hope you’re successful in your trades. Let me know how it goes. I love to hear about successful stories. All my best to you.
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