i’m back home after spending the week (my kids’ spring break) out of town and plan to catch-up on the charts tomorrow morning. there were also quite a few targets hit on active trades this week, as well as some stopped out trades so i will update those charts tomorrow as well as post some new set-ups. regardless of the strength in the market last week, and at the risk of sounding like a broken record, i continue to believe that the risk/reward for equities is very poor right now.
just at a very quick glance of the charts, which i did not have much of a chance to follow last week, i see clear divergences in place in the major indices, which remain overbought as well as prices closing above the bollinger bands on the daily frame, which is almost always followed by a sharp correction. i’ll try to get some charts out before the market opens tomorrow and update the active or any closed trades throughout the day.