Well nothing new really , still remain short since SPX 1125 and will continue to hold my shorts until we get at least below 1000 SPX......we need a real flush in the markets over next weeks.......
But right now we have been moving down a lot for the past weeks and I think we could be able to see a little RELIEF rally. IF we gap down today on bad numbers to SPX 1030-1040 there is a great chance that we get a relief rally to around 1060-1070 before heading further down ( and to lock in some more permabulls!) ... I will still continue to be net short because NO reasons to get real bullish these markets, but I will try playing the counter trend rally with some TNA if we get the real wash out very soon. But overall intermediate trend I am looking for 942 in SPX which is my target to cover my shorts since 1125 SPX.
So nothing new, staying heavy short and will continue , more selling ahead, GDP numbers friday and initial claims tomorrow. Durable orders today...... nothing to get bullish about.
Have a nice day
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