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Thursday, 10 October 2013

Too risky to trade anymore

Too risky to trade anymore as the market is becoming more volatile
Above 1680 is confirmed as overbought as it failed to stay above earlier
The market is too high but it still wants to go even higher
S&P 500 closed @ 1655 yesterday, 1680 is simply too high for today
S&P 500 might drop anytime again just like it did earlier
Next resistances are @ 1685, 1690
Possible trades are to sell S&P 500 @ 1685 & 1690 but not recommended due to market volatility

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