Market view

Markets did another nice sell off on Friday were markets took a big hit !

The dollar kept going up with the euro weak as I have predicted 1 week ago - and I think there is a lot more downside to come in the euro near term with dollar to rally.

With this in mind I think we could see a nasty week this week - and from my analysis we should get the most downside and panic to come this time.

My short term target is still 1140 , but if we breach this I can see us going to 1100 and possible lower levels.

My TZA , DRV and EDZ position is all in BIG green $$$ and this is why I insisted in holding those positions and cash levels.

Im still holding all my short positions and ready for another wild week- there is however a possibility of a suckers rally on Tuesday , but I bet you I think rest of the week will get pretty nasty for markets.

Conclusion: I remain heavy short markets with a first downside target at 1140 - then 1100 and below this we could see 1070-1080.

My fib cycles tells me we could very well see last leg down below 1100 to make the ultimate bottom sometimes mid this month before a huge rally to come in markets into year end.

If any one you have ever made some profits from reading my blog , I would also appreciate if you would give a little donation for all the work and time I use for making those charts on the right side.