Honey for the Bears (SPX500)
Yesterday's pre- US open buying on thin volumes was the perfect meal for the hungry Grizzlies. Come the open, markets turned down and never looked back. So no serious correction underway anytime soon (as I previously tried to anticipate after yesterday's pre-open moves).
Now that the 1850 area has been broken I expect an acceleration of the down move towards 1750 area.
Also notice the pattern that formed around these 1880-1920 levels. These pennants usually signal an acceleration of the move.
If don't have any shorts yet, try and catch some today, if the market will allow any more good entry points. Maybe this will help:
Remember to keep it simple! ;)
Now that the 1850 area has been broken I expect an acceleration of the down move towards 1750 area.
Also notice the pattern that formed around these 1880-1920 levels. These pennants usually signal an acceleration of the move.
If don't have any shorts yet, try and catch some today, if the market will allow any more good entry points. Maybe this will help:
Remember to keep it simple! ;)
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