After a nice rally off the OTE
long sweet spot tag (609.16) price has moved aggressively higher. So much so, we entered the OTE
short zone (630.36 to 635.91). While not enough to justify a outright short, the OTE
short sweet spot tag was enough of a reason for me to cover long positions - so that is what I did. I shall wait patiently for both momentum and volume
to put in bottoming patterns before considering getting back in. That may come in at higher levels but my hunch is we need to clean up a bit first. Indeed, I would love to see those turns come in at the current 15m OTE
long zone near the 617 area...
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