Friday, October 8, 2010

Market view



Well yesterday we began to see some heavy fast selling which indicates that the bears are warming up, but we didnt break any supports though, but VIX got a bullish reversal pattern - gold did get a bearish engulfing and the dollar got a reversal. I think the dollar is in a bottom process and will get a big rally any day from here. The same I expect with the markets , ANY DAY from here over next 2 weeks I expect a BIG sell off in markets , at least until next POMO day 13th October next week. So I expect a huge sell off in markets over the next few days and overall I think rest of October until the end of it could be ugly.

Still looking for SPX 942, but we will see how it plays out.

Have a nice day - still 100% short. Job numbers today important....

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