Replies to post #6627 on Market Sense and Sentiment (MKTSS)

[bbgold]

Sounds Good Peace!
Yes, yesterday had me wondering if this market Rally would continue. From the FTSI it looks like we might move a little lower later in the day but the Dow and Nasdaq can Easily get back into Rally mode if they want to. We might just continue to consolidate today before deciding which direction to go. I think that it Might be best to just watch, maybe. With the morning Down indicators we Might end up with a Down day. As long as the QQQs maintain above 25 here there is always the chance they could go Higher. They have been the First to move Up so being Safe on the Puts looks like a good decision to me. If the Dow and S&P start to Fall then they might bring the QQQs down with them, maybe. Always Best to be Safe though and Cash is Always Safe.
Good Luck Peace! :^)

Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!

[bbgold]

BTW, I sold yesterday out of Fear
I was afraid of the markets gapping Up over 9000/1400 and continuing Higher this morning. The fact that they are moving Down and we have a down day on the FTSI makes it look like I might have been Selling when I should have been Buying though. We will just have to wait and see if we follow the FTSI or find Support and continue the Rally. Are you using the charts that are available here? http://www.indexpulse.com/index.html As long as we stay Below the intraday SMAs we might continue Down. For now the Support at 8850 Dow, 1000 NDX and 25 QQQ are Holding though so we could Easily Bounce Higher from these levels. I still think that you did the Right thing by being Safe.
Good Luck Peace! :^)

Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!