Wednesday, July 6, 2016

July 6 - Closed SPY short, initiated SLV short

Closed SPY short on open and to be honest, I have no idea where equities are going to go.  My best guess is a lot of whipsaw over the next month and a generally difficult swing trading environment.  I am probably going to sit on my hands on the equities front unless we get close to the upper or lower ends of the wedge and enjoy the summer until the range becomes more clear.  I am guessing one of the two will occur.

1.  increasing volatility and a break down later this summer/ Sept
2. decreasing volatility to set up a diamond consolidation pattern then ATH's

These are the 2 conceptual frameworks I am working from so far.

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Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here