daytrade diaries... monday, page-3

morning guys,

this week will certainly provide a good test to whether this powerfull short term rally will be sustainable or just another bear market rally.

there is no doubt that global markets are now overbought and are likely to see some profit taking early in the week. I'm looking for the XJO to test the 3500 level over coming weeks before deciding whether to continue the rally.

have a watchlist full of stocks and am waiting for them to drop into the buy zone before loading up for the next market up leg.