2/18/2010
Traders BE AWARE of what happend today. We are at a very crucial level with the markets here. Todays top potentially could be the top for the next few months so we would be placing stops on longs very tight or selling covered calls on long term positions in your retirement accounts.
From the last few updates we had 1145 as the projected high then 1041.50 as the low then 1073 as a minor top and now 1106 as our major top.
Play close attention tomorrow and if we take out todays low watch out below!
Happy Trading,
P.S the chart above is the 10 min ES notice how the blue bars caught the start and the end of that move today. Blue bars when the indicator is low means a big move is coming and when the indicator line gets high with blue bars that means get out of your longs...
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