As I mentioned in my previous post, I sold my TWM position because of lack of clear direction resulting in low odds for either long or short trading.
QQQ went down a little, and DIA, IWM and SPY all had candlesticks approximating doji's indicating indecision. Futures are a little up right now. So a little down, a little up and indecision. Perfect time to relax some more and wait for something more major to happen. I would not be surprised if we do break up from this triangle, the MAs are still pointing up and Alcoa (AA) had OK earnings with a positive outlook. I might jump in long on a pullback if the market opens enthusiastically up tomorrow. I'm probably not going to short till we get two candles down.
Howard Milano
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