Posted on April 1st, 2008 at 7:39 AM
There are two counter-trend trades at play that are worth watching.
The first is a counter trend short of the Ten Year. The ZN contract made a higher high in price on less momentum. Double click on the chart to see the entire image.
The second is a counter-trend long of the S&P 500. The $SPX made a lower low in price on less momentum.
A counter-trend trade is the first opportunity to enter a market if a change in trend is going to occur. If you are in either of these trades, you are now managing your risk by trailing your stops.
~Joel Stahl
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