Market view

Market is choppy like last week , nothing new out there , no direction yet... we get up 2% , down 2% , up 1% , down 1% and sideways for some time now. But in the end the bears will win this fight IMO and we should see below 1294. As soon we see SPX below 1294 , the markets will fall down fast and then we should see below 1200 end of this month. (Next 3 weeks)

The news yesterday for the minor rally was "Oil is down , stocks up" ... oil was down -0.5% after big run... how funny. These news you can NEVER rely on them. They will ALWAYS make the news AFTER the market move... if markets has gone back down yesterday they would say cause new fears in Mid East or something else. Just funny to see what reasons they use sometimes for markets going up other than POMO.

But after all - the top was made 1344 late February and I still think that was a top. We should not reach this level again at least not for the short term. We trade out like April still in a sideways range before heading lower. Not many new charts to update as nothing new really happended.

The most interesting is the strength of USD , which was green for second day in a row and made a bullish engulfing candle on Monday. As called the 76.3 showed support and we are bouncing nicely off it, target remains to 87ish in the dollar - so nice upside comming there and downside to come in the markets near term.

Everything in this range 1310-1330 is an excellent short - I'm already short 1333 and 1330, but holding for major swing down.

For today - very possible with minor "gap up in futures" (as normal????) and then flush down

Will cover if markets shows strengths and moves above 1333.


Have a nice day