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mkpai
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  • CNX IT: New Downtrend 0 comments
    Apr 4, 2013 11:35 PM

    The previous view was that a tradable uptrend in the offing. But a buy signal with adequate risk/reward did not materialize.

    (click to enlarge)

    What yesterday showed was not so much that the uptrend had ended, but that a new downtrend had started. The volume was marginally higher, but the prices moved decisively down. This indicates a lack of buyers.

    (click to enlarge)

    The April future of the CNX IT should be shorted.

    More at my trading blog

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