USD, weekly
Sp'daily5
sp'60min
Summary
Lets be clear, there is no point re-shorting right now. We've just seen two massively strong up days, and even if we close moderately lower today, we'll probably still be churning in the 1450/60s early next week.
The dollar, if it starts to pick up some momentum could be a real problem though, USD 81s would be a key level to watch for next week.
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So...I won't be hitting any buttons today..nor likely tomorrow.
I'm still wondering if the 'fourth MACD tower' - see daily chart, will indeed occur. If we do see a rollover, then I'll re-short, but I'll be VERY cautious.
There remains a significant chance we'll hit the upper bollinger/Keltner band on the monthly charts, which is somewhere around sp'1490/1510...within 2-6 weeks.
Good wishes for Thursday trading!