Market Analysis for Dec 3rd, 2004
And while this dance goes on between 1200 and 1186, my underlying near and intermediate term indicators continue to deteriorate, suggesting to me that the price action is sucking into the market more and more bulls, right at the same time the engines of power one by one are shutting down.
I dont know how much longer this type of divergence can continue... but right now, even if short positions are premature, taking profits on long positions would appear to be the prudent course of action (for anyone who is carrying long positions in equities)... With that in mind, have a look at my updated daily chart analytics of the E-SPZ...
For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary at. Or try his QQQ Trading Diary.