I have to give myself props for the morning call. I got a great entry for that down move. I just exited, because part of my plan is to be slow to enter and quick to exit. No sense in being afraid to book a nice profit, particularly when you're overlevered on day trading margins. I'm still short in my personal account, because I have enough margin to hold overnight positions in that account and as the chart shows, there's no divergence and this is still a healthy downtrend.
Since we're still looking good, I'm looking to short any rallies this afternoon. First target is to take out the previous low at 813.4. I may play a countertrend bounce if I see a divergence.
UPDATE: Well this is interesting. The S&P futures are showing the exact same setup we had on the Russell this morning, except there isn't a negative divergence (yet). I just shorted the bounce in the Russell.
The Euro is backtesting the wedge. Kiss it goodbye?
