Friday, June 29, 2012
Euro decision causes massive short squeeze. Close above critical thresholds and trendlines. Very overbought on 60 min timeframe so very short term pullback is possible. In small short position, seeking to go long again. Intermediate trend is now up.
Thursday, June 28, 2012
VIX printed black exhaustion candle and big early morning drop was mostly recovered. So still with slight bias to upside. With expectations very low for euro resolution, any news could push things up a lot. Now trapped in narrow range and a close out of the zone will probably indicate much more strength in that direction.