The Dow today took a stab out the lower end of the RTC channel but came right back up thanks at least partly to the hoopla surrounding the launching of the QE2 which helped neutralize the otherwise bearish omens recently on the horizon.
We finished with a 10 point gain and a doji daily candlestick indicating indecision in the market. So still no RTC downturn setup, though we're running in the lower half of the RTC channel so it could happen at any point. The daily ES on the other hand remains solidly in the center of its RTC.
So for the time being, I'm still just sitting tight. And the RTC is doing its job, keeping me from bailing out early.
No trades today. The VZ I sold last week did indeed go lower. We were up 0.97% today and are currently up 23.6% YTD. The Dow is up 5.7% YTD.
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