I am switching back to the BOT Long signal at 1295. The bulls are running the show here still. The bears FAILED to break under the mid March 2011 high volume swing low and they had plenty of chances.
So this only means one thing.. bullish price action ahead and possibly very bullish and longer term price action. But I do not want to get too far ahead of myself. I refer you to the quarterly sp500 price chart I made a day or two ago which shows the trading dynamic on the 10 year massive swing trading range.
The quarterly structure shows that we could bust up and through a 10 year trading channel in the second half of 2011! I don’t care what anyone says about GREECE or the rest of Euroland !! If the quarterly price structure remains above the blue dotted bullish up trend line in force since 2009 then the market will evolve into a massive UPSIDE bullish 10 year channel breakout. Period.
And if that is to occur, then BestOnlineTrades will remain on a BOT long signal for the duration and beyond…
Do not be afraid to be bullish if the tape tells you do so! The ‘news’ is many times different than what the tape action is telling you!