Monday we got a nice pop in the morning so for the bulls it was quite good. I managed to sell all my long positions and jump a lot more into shorts. I got loaded a nice chunck TZA at 30 when SPX was 1122. So I'm looking for a major swing lower from here. The first starter position in TZA were on Friday where I scaled into some TZA, so right now I am underwater... but I believe we are VERY near the top. Today we have retail sales and other numbers comming out, volume to the upside is still weak and if the big boys is showing up, we could very fast go down. Tuesdays havent either been really bullish in the past, everytime we dropped a lot in 1 day , turnaround tuesdays have been a day where this has happended. So probably if we get some bad news premarket, markets could gap down huge and plunge from here.
I have lots of negative divergences in markets showing me a decline IS comming soon.....
Very short term I'm looking at least for a pullback to 1070-1080 SPX , so if we wont get the crash I am looking for, then we should have a pullback to this area BEFORE mover higher. So either way it shows me that its best to me short here.
So I'm major short for SPX 1122 and believe we are about to move lower, time will tell.
Have a nice day
No comments:
Post a Comment