S&P seems to be heading towards 1385. Its little fustrating market but we have to follow the market. Market is telling us that for every dip we have buyers since last December. 1341 level has become a immediate support area. Until that level is broker, I will not consider taking short opportunity.
Market breadth is showing systematic buying since last two days.We almost didn't have the any selling in this market.
Overbought-oversold ratio has turned barely to positive side. This really shows that there are huge buyers and they don't want this market to go down from here...
Looking at the above situation, I am going to look for little low risk long position now..... (have to change hates.....from shorting to long positions)
Market breadth is showing systematic buying since last two days.We almost didn't have the any selling in this market.
Overbought-oversold ratio has turned barely to positive side. This really shows that there are huge buyers and they don't want this market to go down from here...
Looking at the above situation, I am going to look for little low risk long position now..... (have to change hates.....from shorting to long positions)
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