Possible Top In Place

DPR Update: No trade, market is non directional and bearish

I exited my trade this morning for a loss.  I hate losses, but this game is not about being right, it’s about making money.  Losses are part of the mix.  Now I want to see a bigger correction come so I can sweep up the Santa rally.

If this creates a new high in the coming days I will be very surprised, I think any rallies are counter trend now and more weakness is on the way the rest of the week.  In saying that tomorrow will probably close higher simply as the benchmark has had 4 lower closing days in a row; law of averages and all that.  But I don’t think it will hold.

In any case, the system has a stay out signal due to the short term trend now pointing down.  It is going to take a lot of ammo to get a new buy signal in place now.

So, lets see some good selling to get in at a much more favorable price soon.

Bring on the bears,

John