Two weeks ago I wrote: "Indicators are becoming overbought. I am expecting some correction now, but a further move up after that".
Our new long position has some 9% paper profit already. The index closed above the 200 day average and close to the upper side of the up moving pitchfork. All indicators are overbought, meaning some reaction or consolidation is in place. The index may continue to move above the 200 average or react back to the 100 day average, followed by a further medium term up move. The total profit trading the index is 61% from the start in March 2009. SATS5 is green, we have an open long position.