Pullback or All Done?

I had a good day trading bearishly. I don't think there's a clean read on this market here beyond hours and days. Tactical bulls such as myself are taking profits and trading either short-term or building short positions. I shorted from the market's Friday high on the S&P 500. I held even though I saw RTY clear its resistance line, but that was my last line for the day. Had the other markets followed higher I'd be nearly all cash right now.

Longer-term, bears are still nervous from the rise. Bulls are still shell shocked. The major indexes and TLT (though not ZB, already broken out) are all sitting on major support/resistance lines.

No comments:

Post a Comment