Markets did a gap up and then a little run early on the day - for thereafter making a great reversal intraday as I called on yesterdays charts with a possible move up in the morning for thereafter a good move down afterwards.
I expect from this level that we might see 1100-1120 next few days and a sharp move lower in markets is very possible - dow jones seems like forming a topping hs pattern with targets near lower 10.000... which is WAY lower than those levels.
Conclusion: I remain fully short via EDZ , DRV and TZA and actually got a daily SELL signal on indexes again. So overall looks good for the short term and with a SPX target 1100-1120 to retest lows. In case we break the lows we might see 1080-1090 area.
http://2.bp.blogspot.com/-4z6OWAQtviI/Tmnl4cxw70I/AAAAAAAAGsw/AwS8s6mkOHk/s1600/spx.jpg
ReplyDeletesymmetry !
Too many lemmings on your trade now. Sorry.
ReplyDeleteKeep up the good work.
ReplyDeleteSpot on analysis Sqwi. Keep up the good work mate. Skal!!
ReplyDeletestewie