Another great day with a SELL OFF :-) !
What was unusual today - normally if the markets gaps down on unemployment day , it rallies into close - but we actually got a little rally intraday , but then closed near lod on all indexes - only QQQ closed below lod and down -1.5%.
Markets looks so weak right now - even with euro up 1% markets cant manage to rally - this is a BIG RED FLAG. Watch when the dollar bottoms out then the markets is gonna fall a lot more....
Overall the dollar UUP is oversold on daily , 30 min and 60 min now , so a very good spot if its bottomed here on Friday. I dont know - and have NOT got any buy signals in dollar yet - still on sell... so maybe it will go lower monday - I really dont know yet, but according to the charts it could be a good spot to bottom.
Holding all my shorts TZA from 34.5 , closed at 38.01 and looking great for next week and ZSL 16.6 which closed near 18.
No reason to be long markets now - I think we will get some possible short term rallies for maybe 1 day or maybe 2 , but SELL those - as we will head lower over next weeks imho.
They managed to close the SPX right at 1300 , but wont help next week as we should see below 1300 and possible below 1280.
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