Buy Hold or Sell

So the question is, do we buy, sell or hold? Let’s take a look at the chart, from the December lows the bulls have built a bullish trend, and the trend is still intact. Price action trend has been as of yesterdays close still is making new highs/higher lows. February 5, price action made a new high and is now pulling back toward the bullish trendline. The TC2000 T2122 chart was pegged and has now rolled over signaling a pullback.

Here is what we have done with this information, at the recent high we profited on a few winning long positions and have bought PUTS on the market. Yesterday we profited on a few of the PUTS, and now we are closely managing a few positions waiting for the SPY to give us a clue as it moves closer to the bullish uptrend line. We currently see this pullback as a bullish buying opportunity as long as price action stays above the trend. The key now is to identify the right price action buy/sell signal.

Rick Favorite Charting Software

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