Thursday, August 19, 2010
Any Good Spots to Buy This Market ?
We continue to move down, currently the ES trades at 1071. I don't see any advantage in buying here. I will not look to buy until 1063-1066. I will wait for volume capitulation within that range and at that point I will look for a long entry that could see some descent gains. If however, the market moves against me in that long position. I will not defend it. I expect further movement to the downside in the coming days, most likely into the 1050s. I will post if and when I do take my next trade...
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by the time I posted my thoughts above, the market already down-ticked below 1070...
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