February 14, 2008

SP500 Still A Sideline HoHummer

Filed under: S&P 500, Trading Technique — tradingfives @ 12:03 pm

The trend, as defined by the Roadmap Chart channels, remains down but the SP500 is presenting no new, low-risk trading opportunities. The Roadmap channels can define the trend for months at a time by prices remaining (largely) within the upper and lower channel bounds. We would look for price to hit the upper channel, without penetrating it, to set up a short trade opportunity.

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