Okay, we didnt get the plunge I was expecting yesterday and we are having a TRIPLE bottom 1040....unbelieveable we cant break that level. Again I'm short from 1125 SPX major, but right now I am looking for taking profits today IF the markets shows some signs of reversal , and we break the down trend line. I wanna SEE this before and IF we break the downtrend , then we have a good shot for a short term rally before we plunge back down. So today will show if I'm going to cover or just hold into my shorts, but there is a nice daily bullish divergence on MACD and if we bounce right here now, it will confirm that longer term bullish MACD divergence. The break of downtrend would be SPX 1065.
Take in mind I am still very bearish longer term, and think we go below 1000 SPX, but for now it looks like we may have a good shot to test 1080 and above if we break the downtrendline, which we are getting close to do. I need to follow the charts and what they are telling me, can just sit here and wait for markets to go down as I want them to do, but I already have a huge profit from my shorts and I could take these ones homes. If we get a bounce I am going to pick up some CRUSHED stocks for a major bounce near term.
Time will tell, you can follow me on twitter or lion
Have a nice day
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