You read it here in the forecast for today, published last night:
“Medium term models are biased against short selling, and are cautious about opening fresh long buying. For Tuesday, the models indicate staying flat below 2753, and buying within 2753-55 range with tight stops.”
And, the index reached as high as 2752.61 in today’s session so far – just 0.39 points away from that 2753 level and protected the followers who trade with a longer-than-intraday style from entering into a losing long (so far).
Would the index cross today that 2753 level our models indicated as the key for a buy? Let’s wait and see where the market goes in the rest of the session and what the models interpret it as. (Current time – 11:28am EDT)
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