The market in on the edge of generating daily buy signal.
Technically speaking we should consider opening long positions as primary uptrend has not been broken.
There is lot of fear now in the market; however the technical approach allows us remove personal feelings from trading. We don't know where market decides to go, however if we play with proper money management, the odds of profiting will be on our side.
There is an interesting paper about market momentum (here).
Sources:
[http://blogi.bossa.pl/2010/07/13/impet-jednej-sesji/ (via Google Language Tools)]
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