The 1% bullish sentiment reading marked the short term low. The spx has rallied 50+ points but is now approaching heavy resistance. We could see the markets go either way and it would make sense-why we scaled our 2942 short position down to 1/3-covering 2/3's at 2810. I am expecting at some point for the gaps above to get filled. But the question is, what will be the road map to get there?
Maybe we have another washout to the downside-maybe we head straight up? But if/when we see that move happening, it will be entering the "Kill Zone" which may turn out to be a "Black Hole" I go over the past "Black Holes" Woody Dorsey has called and what has taken place during those moves in our update free video report below. . I don't see any reason why this one will be different. That is why we are offering the 100 spx point guarantee!
As always-everybody was in a rush to try and short the bounce. Now being used as short covering fuel. Kill zone is not here yet and why we expected the bounce--needed sentiment to get back into the extreme bullish area before the big drop. If everybody is expecting the drop like they were, this is what happens. Stay tuned.
Franchez7
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Once again, you guys were right on!
carol8297
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Now I think I get it. We may go down first or not, but we will fill those upper gaps before we enter the kill zone and that will be a good short opportunity.
marketmaster123
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@carol8297, At this point, just stay open minded on direction. The bigger move is pending, but you have to be patient.
sentimenttiming
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@marketmaster123, Exactly! The "kill zone" is coming, just need a little more time to bake.
carol8297
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@sentimenttimin
I can follow instructions and be patient.
carol8297
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This is an exciting time in the market. I will follow closely and hopefully make back some of the money I lost before I found you.
sentimenttiming
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If you have any questions about the markets or 100 point guarantee, please ask in here and I will be happy to answer as best I can. G