This was so nice that the market gapped higher this morning.
It did three reasons that I like for shorts.
1. The market retraced back up where it broke down yesterday morning.
2. There is a morning gap this morning. The market will likely close that gap.
3. The market will likely closed lower than it's opened. It will formed a black bar.
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Bought another batch of SPXU at 36.00.
ReplyDeleteMe too. Entered at 36.00. Right around R1 110.83.
ReplyDeleteWe touched the 50 day SMA on SPY 110.96.
rovate
Guys EW projects one or two moves....if we don't head down soon we will rally to week's end...if we do head down like GCL projects then 1020 into 3/6 or so
ReplyDeleteMouth, that's a bit better. Keep options open and trade what the market gives you. I agree, we can go either way, but I am leaning a bit short here. No guarantees, especially on a bs fed day.
ReplyDeleteI will be away from my desk entire this afternoon.
ReplyDeletefinally some droppage.. man that took all day.
ReplyDeleteglund
i'm out @ 36.03 f* this EOM bullishness
ReplyDeletestrew
If we take out yesterdays high, I am going long. Had a very small short position today, as there is very little momentum either long or short right now. Live to trade another day.
ReplyDeleteEW guys says tomorrow
ReplyDeletedip and rip and then back to yesterdays lows and up up and away