Uptrend broken, Stochastics, MACD all down --> $760 profits.
5 min Nasdaq Emini 100
Daily Nasdaq Emini 100
Hi,
How's it going lately? Its a difficult time to go long these days... In fact, its better to stay out of the markets if you are not sure...The uptrend is no longer in tact ( see the daily chart) Its logical to go short...
Not much market moving news... you can refer to the excerpt from briefing below
Today's play is purely technical. We can see a slight rally in the market with price reflecting down from the moving averages.. furthermore, stochastics seems to suggest the same thing and turned down from the overbought region... I shorted 1 contract at 1798.5 and another 2 more contracts at 1794 at 12:15... The downtrend is further confirmed by the short-term MACD cutting the zero line..... and futher confirmed by the mid-term MACD cutting its smoothed moving average
... I got out at 13:00 pm at 1783.5 with a $760 profits... This is not a difficult trade.. I hope you captured it too.
Briefing.com:
There is a fair amount of news, but nothing dramatic. Third quarter real GDP growth was revised to a 2.0% annual rate from 2.2% and the deflator a touch higher to 1.9% from 1.8%. None of this will alter fourth quarter or 2007 expectations