Was thinking of a S&P long here…
I was also watching the S&P as it was trading between a consolidation channel between 855 and 860. It could have been a long above the break of 860 which it did but I am so cautious and have been caught out by these sort of trades many times so I thought that perhaps I may enter on a pullback. The market looks like it is make a pullback now but the relative lack of strength when the price action went above 860 looked rather weak.. however, saying that now, it would probably shoot up…
I need to be completely confident in the trade and there is just a feeling of something which isn’t quite right so I’m going to stand back this time…. we’ll see!
