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Wednesday, September 30, 2015

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Looking at Thursday

3:02 PM    No comments
This is interesting. The chart says most likely will go up, and todays candle is an 'up' candle. So why did I buy a put? Lets take a look...

You can see that the majority of the signals on this chart says Thurs will be an up day. But I think its a fakeout. Here are my reasons:
1. The overall trend is still down
2. The global economy sucks
3. I think the report from china was a 'relief' rally
4. The ADX black line isnt showing reversal territory..its still over 15 at 26.24

So I took a stab at it and bought a put. Could the market go up tomorrow? Yes it could, and I have ways to deal with that. For now, we wait until tomorrow.

Tradinginsider

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