Wednesday, May 6, 2015

May 6 - Looking for temporary bounce

Slightly increased SPY long near close and caught some of the short squeeze.  On the 60/ 120 min frames, it looks ripe for a solid bounce which if it occurs I will sell into tomorrow/ Fri.  After that however it looks fairly bearish considering the damage done to small caps and techs.

It is also possible that we gap down big and really gain momentum to downside but I believe we have at least another go within the consolidation zone.





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