yellowcake, yea there is no reason for the rally, but the problem is the markets are in such a awkward position. Next/last point of resistance is around 10530 if that goes I will be sweating a bit as I am heavily short. Stops are at 10613, average shorting price is 10380, so if stops get hit that’s a loss of 224% and about 300% on the S&P 500.
I am glad to see that the last 3 days have pretty much stayed within a set range on the Dow, this is more indicative of a top for the Dow when it trades in a more normal fashion. Should tonight be down and retest 10,400 we can be pretty much certain about this outcome and bump up shorts again. Should it not happen and the markets just break through… I don’t really want to think about it.
DOW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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