Hi Bill,
I use the near term pitchfork largely, this gave a buy at last Monday's opening. I should have simply reversed my short and gone long off that line, and generally would have. But, for the longer term picture, the outside weekly reversal is so prominent that I simply covered that opening and reinstated the short after the rally close. So, I have a near term long signal with an intermedate short signal. I should be selling this rally, but I'm already short, so. The fork's resistance is around 7950, so now I'll just wait it out and see if I get reversed up there or if we sell off starting on Tuesday. This can happen once in a while, gladly not too often. Sometimes, it works its way in my favor and finally yields to the more intermediate signal. We'll see. Here's an example where the intermediate signal interferes with the near term signal, which I generally follow.
GZ |
