Going to make a full exit of long positions early on Monday open. Some positions small profit, some even and some loss. Will be exiting about even overall assuming we open in the same ranges we closed.
I think this leg of the drop is due to continue to at least 3300. This is contingent upon taking out the 3800 level, but I am starting to feel that's a lot more likely. Exiting all my long positions - I'd think if there's another leg down longs won't benefit from the same bounces we've had so far making it easy to trail stops and lock in profits. Longs may be for the hammering if we break 3800 again.
Markets rallied on Friday after the sell-off to close essentially resting my previous bearish exits. I'm planning to start to short again into these retests. If the downtrend is holding, SPX should not trade over 3950. Giving good entry ops now we're around 3900.
I think this leg of the drop is due to continue to at least 3300. This is contingent upon taking out the 3800 level, but I am starting to feel that's a lot more likely. Exiting all my long positions - I'd think if there's another leg down longs won't benefit from the same bounces we've had so far making it easy to trail stops and lock in profits. Longs may be for the hammering if we break 3800 again.
Markets rallied on Friday after the sell-off to close essentially resting my previous bearish exits. I'm planning to start to short again into these retests. If the downtrend is holding, SPX should not trade over 3950. Giving good entry ops now we're around 3900.