What to do when the stock market is overbougth...hang on..lets buy some more!!. Well not me. I expect the bull rally to try to break the all time high at 18.270 and try to start a new leg towards 18.350/60.
If the bulls succeed to push it higher then they will go for 18.390/40, 18.425, 18. 470/80 and possibly all the way to trendline resistance at 18.510/20.
My plan is to go short if the bulls go for the levels above. Where I will add on to my trade as the Bulls try to push things higher. All I need to happen is for Madame Yellen or Mr. Bond to scare the market for me to reach my targets (in steps as the intraday market stays choppy)
If the bulls succeed to push it higher then they will go for 18.390/40, 18.425, 18. 470/80 and possibly all the way to trendline resistance at 18.510/20.
My plan is to go short if the bulls go for the levels above. Where I will add on to my trade as the Bulls try to push things higher. All I need to happen is for Madame Yellen or Mr. Bond to scare the market for me to reach my targets (in steps as the intraday market stays choppy)