Market view

Well - my current market view right now is actually bullish on the markets. For several reasons, first of all I want to point out that we had 2 weeks of selling and I think that the shorts a crowded at this moment, also when we had a lot of negative data comming out last weeks.

1. In this week we dont have lots of economic data - which could be bullish for markets
2. USD may retrace a little bit - which should help markets moving up
3. We have option expiration day 16th july
4. July is one of the best summer months statistical
5. By reading the charts we are near a bounce or short term rally.


So what I expect is a rally comming soon - I dont know if bottom already in , but I am calling for a bottom short term really soon. I think the upside targets is not to fall in love with, but if you trade it you can make a lot of money on it. My targets for SPX is around 1070-1080 where I am going to load my boat with shorts for the plunge down after. But right now I am not that bearish - only very bearish longer term , but very short term I expect at least a bounce or little zig zag rally up.
I still expect overall markets to continue down to September - where the medi term bottom should be. I expects markets to be around DOW Jones 9000 level.

Hope you still enjoy reading my blog - have a nice day !