Thursday, March 29, 2012

XXX week --- Weak in the knees

Historically, the week after XXX (triple expiration) is a weak one. So the struggle for the equity market to get going here at midweek is not surprising. But taking a look at the daily SPX from last post, as well as the daily IWM chart below, we can see the bigger trend still remains up. So whats the plan? Until the trend is broken continue to trade with the trend. This week the market may continue to struggle but until the trendline is broken buy the dips.

Note the IWM trendline from the Oct2011 lows which currently sits right on the 50day moving average near $81.50.

No comments:

Post a Comment