Although the MACD and a higher low may look like or indicate the beginning of a potential reversal, the trend as we define it, both calculated on price, volume, and volatility as well as in a chart technically, remains intact. Often, this is the point where many get sucked in against the trend and get beat up. It is for us a big lower high, in a trending market. Until that changes, this appears to be a decent area to go short, with a SL above the previous lower highs, and look for the trend to remain intact for a little while longer but watching and using caution for a definitive change in the longer-term outlook. We may well see a big dollar push higher at some point in Q3-Q4 but currently, we do not believe the trend has changed quite yet. We are looking for a pretty nice move lower in April/May.
Comment:
Ho hum tweedly dee dum here we go again
Trade closed manually