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I can see how an overbought market would not concern a scalper. I guess it just depends on how your trading edge is structured, if you even have one.

Because the indexes stay overbought for so long.

Remember buy the close sell the open...the cash open. Stock index futures rise overnight 90% of the time. It's one of the easiest trades, that is of coarse if you go against everything the pros have told the armatures..that is to be flat at days end.

Amazing chart formation, looks like it's going higher

So what do we have here a 14 point ES range over the last 6 trading days. Let me guess earnings will arrive, we will make new highs, the fed will end it's POMO operation, then the summer sets up for the ultimate short, just a thought.

Note the weakness in banks stocks before QE2 they we headed back to there lows before QE2 was announced. He did it simply for the banks. WellsFargo had gone from 34 to 23 dollars in 4 months from May 2010 to Sep 2010. Then banana ben arrived to save the banks.

I can't wait for the central bank to get out of the market and stay out.

Until these POMO liquidity pumps stop flowing shorting is not wise. I am just as sick of it as everyone else.

The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. Did you mean a symmetrical triangle?

Really please explain, do you see a divergence, we all know volume on the upside has been low for the past two years. But we don't get paid on volume we get paid on price.

I think your having psychological issues, you can't force someone you don't know to take a position. Seek help!

Friend I only take long signals in a rising market, my trading model generated a buy signal @ 2:30 this morning price entered was at 1329.50.

To anyone interested in trading for a living, this is a text book example of what not to do. Swim with the tide or stay out of the water. Yes it is that simple. This trader is saying....I'm right the market is wrong.

I would say your breaking all the rules. One your trading against the tide. Two your averaging into a losing position against the prevailing tide. Three your moving your stop.

Central Bank defense strategy # 1..." just think what would have happened if we did nothing"

http://www.marketwatch.com/story/crony-capitalism-strikes-again-2011-04-06

Article by David Stockman: REENWICH, Conn. (MarketWatch) — Someone has to stop the Federal Reserve before it crushes what remains of America’s Main Street economy. In the last few weeks alone, it launched two more financial sector pumping operations which will harm the real economy...

I knew as soon as I posted we would have a red morning, sure enough we did. Today is the typical jam up overnight.

I figured the day I posted this would be a down morning, and yesterday was. Let me say 90% of the time stock index futures rise overnight, so 9 out of 10 times stock index futures will be up by 6am cst.

It’s really very simple. If the central banks would stop meddling in the markets, no one would harass them. They are the ones who have decided to play politics with monetary policy, making comments like “we saved the world” at Jackson whole. What a pompous ass.