Market view

Markets keeps rallying for 4th day in a row - amazing and I'm still holding my TNA from 78.3$ which closed at hod yesterday at 88.9$ this is more than a 10$ gain PER SHARE , and I'm size in and been holding all.

My plan right now is to take profits on the first day I see weakness in markets cause I wont loose all I have gained at the moment - but on the other side I wont get out before we are starting to move down.

I'm getting a bit more bearish now and think we might be close to a short term top as I see lots of sectors beginning to get overbought in the short term - but remember we can stay overbought for weeks....

Right now my obj target is 1360 or so in SPX - its 1st day in a month which is USUALLY bullish - time will tell if we get another rally today but I think its good to start to get a few shorts (TZA) for a starter... but nothing big before we get confirmation.

If you follow me on twitter I will tell you when I think its time and when I am going to add.

But who knows if we see 1400+ in the next 1 month ? Its also possible - and that is why I dont really know if we are going to head down soon or we just keep moving up. My feeling right now is that on the first trading day in the near future where I see some weakness I will take profits in TNA and some longs and move into shorts for a starter at least.

Until now the trend is up and remains up until otherwise - so time will tell , but be prepared to switch 100% upside down and move into shorts. I've been long SPX 1320 and TNA 78.3 right near the bottom and already in good profits - most bulls are getting into the markets now as they feel safer to do it now - this is the time I am going to be more cautious being long and will ride it up as long as it last. Its PURE speculating - but TZA may form an inverted HS pattern with right shoulder here at 33$ if TZA dont break below 33 with good volume I think I am going to take a good position here as I also see a 30min bullish divergence playing out like I saw in TNA at 78.3. This means a possible rally in TZA could be around the corner - but TZA 33 must hold - therefore I could probably take all profits in TNA very soon and switch to TZA, time will tell...



Have a nice day