Wednesday, March 30, 2016

Mar 30 - Blow off top?

Hard to say now but the big volume today could be distribution not a push towards ATH's in near term.  Sitting tight until close but the reversal candles at the upper Bollinger look good to short at this point.
 QQQ is particularly promising as a potential short as it hit the upper Bollinger and reversed.  Will wait towards end of day to see whether to jump in or not


1 comment:

Doug said...

great post! maybe a blowoff top. I covered my shorts very early this morning, so it probably confirms that call! But if we're going down and the bear market resumes, there will be plenty of time to establish short positions.

TLT is selling off hard today -- reversing the big move yesterday. Fear of inflation rearing it's head? or liquidity issues? I didn't sell any TLT tho. Yellen herself just announced that things don't look good for the world economy and that there's a lot of risk out there. Hell, there's risk of terror attack at any time. Risk is building, not receding.