Like Candid Camera, when you least expect it, you get it. The break of the recent support levels and the 50 day MA for the SPX is starting to make these charts look a bit worse off. This could very well lead to a short term capitulation type low being put in. So far there's not much of a bounce off the lows of a short while ago and I'm sure there are some folks other than myself licking their chops on the idea of shorting any strength that may arise in the coming hour or two for a quick trade into the close.
The hard part about getting too aggressive at this point is that we have been declining now for about 3 weeks without so much as one lift. That continues to setup a better bounce opportunity. As a result, if you too are licking your chops; if you do sink your teeth into a short and get that juicy profit, don't let it get away!
The hard part about getting too aggressive at this point is that we have been declining now for about 3 weeks without so much as one lift. That continues to setup a better bounce opportunity. As a result, if you too are licking your chops; if you do sink your teeth into a short and get that juicy profit, don't let it get away!
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