I will be looking to grab a short position soon. These reflex bounces off oversold conditions usually breakdown within 2 days. So tomorrow should be some range trading and then early next week we'll likely head back down to fill the gap at 1065.
4 comments:
Petsamo
said...
SPY finished just above its 200 day SMA, SPX finished just below. My indicators say we gap up, but I'm hoping for a gap down. I have 2 of 7 positions in cash. It's been weeks since I've held a cash position overnight. Good luck everyone!
I don't think we'll get above 1110. Market suffered much more technical damage than in February, throw out the playbook for previous dips. This one will last longer.
The information contained on this website and from any communication related to the author's blog is for informational purposes only. The analysis and commentary do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading or investment strategy. The materials on this website do not constitute an offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
4 comments:
SPY finished just above its 200 day SMA, SPX finished just below. My indicators say we gap up, but I'm hoping for a gap down. I have 2 of 7 positions in cash. It's been weeks since I've held a cash position overnight. Good luck everyone!
Just don't know if it is time to short ... big boys are saying we could rally from here - Biggs and Dr Doom for example.
I don't think we'll get above 1110. Market suffered much more technical damage than in February, throw out the playbook for previous dips. This one will last longer.
i wouldn't short here. remember late february you shorted from 1120
Post a Comment