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.
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.
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!
ReplyDeleteJust don't know if it is time to short ... big boys are saying we could rally from here - Biggs and Dr Doom for example.
ReplyDeleteI 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.
ReplyDeletei wouldn't short here. remember late february you shorted from 1120
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