Feeding off of pain and euphoria. Find me on Twitter @greenlander1
Thursday, June 16, 2016
Jun 16 - Closed shorts
I got stopped out mid morning on the gap fill on my shorts and now eyeing longs. We didn't hit the low 200's in SPY so I don't have total confidence in a short term bottom but seeing some promising things so far today. My guess would be a bounce then a bit more downside before bottoming but for sure the easy money on the short side is over. If SPY closes slightly in the red, I will go long for a potential bounce tomorrow.
CPC is very high at 1.41 which means fear is in the market and we are due for a bounce. Exactly when I am not sure.
Potential consolidation for a breakout
Looks like consolidation here also
Positive divergence on hourly
still in its channel so we could still go down
This is extremely promising as bonds are overbought and lining up for a breather