I am activating a preliminary BOT Short signal at 1342 on the premise that possibly the market will not be able to exceed the July 7, 2011 swing high. If it does obviously this signal will be wrong.
I am using the verbage ‘preliminary’ simply to indicate that I am getting ready for the real BOT short signal and want to take a chance now that this could be it, but am not at a full confidence level on the signal yet.
This signal will very quickly become invalid on a break above 1347 and then 1357 on the sp500.
I am also using this preliminary signal to avoid having to issue a BOT short signal intraday when and if the market is already 300 points down…