This trending day is fascinating insofar as IWM has basically held the 20 MMA since 8:30AM PST.
Even the slightest pullback is bought; and yet, the money flow shows a different picture. Thanks Pascal.
This trending day is fascinating insofar as IWM has basically held the 20 MMA since 8:30AM PST.
Even the slightest pullback is bought; and yet, the money flow shows a different picture. Thanks Pascal.
Only price counts to make money.Originally Posted by nickola.pazderic
A topping pattern will take time to form.
As of now, big money does not chase this gap, but it could chase it in the next days.
In other words, do not chase this up, but do not short either.
Pascal
I have been using P&F charts for over 30 years, a subject which is not discussed here very often. I believe in this approach to identify intermediate and long term trends. I would suggest that people take a look at most if not all recent P&F charts of North American indices Dow,S&P, Rut, NASDAQ, TSX and you will notice that the bearish resistance line has been BROKE UP which essentially means that the trend is now UP and thus shorting is not a very good idea as mentionned by Pascal.
IMHO, buying the forth coming pullback is therefore the less risky trading plan.
Pierre Brodeur
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