I am watching the momentum closely as mentioned in the daily play, and I am not liking what I see.
Back to positive on most of my MACD setups on the 4 hour charts, and relentless to the upside on shorter time frames.
If we go above the 4380s and stay above them it's already a bad sign. I am moving my stop to breakeven with my first entry at 4423, and will be adding only if a clean sell signal develops.
We have Euro CPI this morning, which might provide some volatility. In any case, be cautious.
Friday, May 15, 2009
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