Monday, October 17, 2011

10/17/11 Morning Prep / Analysis: Futures lower, earnings week ahead.

Fundamentals: Neutral
Futures lower amid Euro Zone fears. Earnings week will make things very unpredictable, take it a day at a time.

Technicals: Short

Technicals all showing short bias. Longer term charts showing a pullback, shorter term charts showing selling pressure.




Plan: Be careful shorting at these levels, could be last wave. Only go long upon strong signals. Rallies may be "pullbacks" with continuation into downtrend. If taking shorts, attempt to sell buyer failure.

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