Market view

Markets did another creepy slowly boring day grinding higher and I'm still holding shorts - now underwater TZA 44$.

However I dont believe in this little rally we had this week - remember markets has gone up on no kind of pullback which is usally NOT bullish and markets could plunge fast as there is no supports forming by this.

I think bears will claw back from today in a big way - so today we should begin to see a dramatic reversal and I think we will get a lot more bad news over the weekend about Greece as they need cash before October... there will come fear in the markets.

Overall silver did plunge nicely yesterday and I'm in big porifts on my ZSL swing trade 11.85$ and still holding it all as I belive gold and silver has more plunge to come.

Remember we are still in the same traindg range which is 1140-1230 and we need to see a break either way and this is where I think we break down and move down to 1000-1050 area on SPX over next weeks.

I think the move should begin down from today so thats why I hold all my swing TZA , EDZ , DRV - 44$ 19.7 and 11$ only my TZA underwater currently.

If you look at nasdaq compq we reached the MA(50) perfect yesterday and on COMPQ we reached MA(200) this is perfect spots for a reversal or a push up above and then fat reversal afterwards... time will tell - but I'm expecting the reversal to start today....

Conclusion:

I'm holding all my TZA , DRV , EDZ swing trades and from today on I'm looking for a fat reversal to the downside to begin our way down to 1000-1050 on SPX..........

Long TZA (44$) , DRV (11$) , EDZ (19,7$)