Wednesday, August 5, 2015

Aug 5 - Equities blasting off

I flipped short to long premarket as it looked we were going to get a serious squeeze.  Volume is fairly strong and it is possible we see retests of ATH but we will have to see whether this spike holds up.  I noticed this 30 min chart last night and realized that my short position may have been in trouble and I may have given too much bias to the VIX low.  AAPL while it has suffered major technical damage and may be setting up for a bigger fall looks set to bounce for the short term.

Update 1230pm:  IWM, SPY looking very weak so this bounce could be temporary.  I got stopped out of longs and will reassess EOD.

QQQ could easily retest highs

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