The market is right back at the heavy resistance level. S&P 500 at 1103 to 1105 area.
Last Friday action was a up day for the market but the volume was light.
If the S&P 500 take out 1103 to 1105, then you can expect a right shoulder to form.
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Watch TZA at 6.50. That is the support level for TZA.
ReplyDeleteAlso watch the VIX at 25. Another support level for VIX.
Nasdaq looks weak here. Lightened up shorts here. Only holding GOOG short here.
ReplyDeleteAgain the volume is light today.
ReplyDeleteToday and last Friday trading volume is light.
Last Thursday, the market opened higher.
I believe the market will drop back down and close the last Thursday morning gap.
Yea, GOOG went from green to red today. Would not be surprised if we close down on the indices.
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