Well as yesterday we opened green and in my target area 1060-1070, I nailed it and we reversed from that area. Last 10 minutes went UGLY in markets and huge sellers there in indexes.... now DOW is below 10.000 ! People talking about it today and we have a VERY interesting day with GDP and Bernanke. Very volatile day I think and I think we BIG NASTY move to the downside could occur. I am expecting bad numbers under 1% and probably negative numbers.... but lets see, the VIX is slowly increasing and the bulls looks very weak to push us up again.
I'm looking for a move to 1040 this morning and possible minor bounce, but I think it will crack , possible when Bernanke talking... we will see... but I think we could see 1000-1020 TODAY, so a black friday could come...
I am going to take a few profits on my shorts since 1125 SPX IF we go near 1000 level and bounce... but I am holding for the next weeks becuase I think we will go down to 942 or 872 in SPX which is fibonacci retracements.... September worst month, but maybe the start of september might be good.
Overall still SHORT, remains short.. and nothing to get me bullish here...
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