Tuesday, January 19, 2016

Jan 19 - Another weak day

Amazing how we have these divergences but they don't get follow through.  I really thought today would have been more productive for longs.  Took some SPY ITM puts expiring end of this week at close in case we get a big move down below support.  I am leaning towards a gap down.  I really don't know what will happen intermediate term as we don't seem to be getting the capitulation needed to set a floor.

Printed a reversal candle with weak volume so today could be seen as a weak bounce/ consolidation within the ongoing trend.


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