Wednesday, October 19, 2011
It finally looks like the pullback is gaining some momentum. We need to be patient and wait for a clear indication that the pullback is nearing completion before taking any new long entries. Of course, an upside breakout would qualify, but I don't think that is going to happen right away. A better setup would be a pullback to MA support which is still below the market.
Posted by Trader Craig at 6:08 PM