The weekly looks HORRIBLE. I'm short and think us shorts will be running. I would not be surprised if we see 2700 at some point next week. Bulkowski's has 2900/2740 6/1.
The moving average in this next chart - falling in line with the fib will give resistance that may result in some sideways chop this week - good for my delta neutral trades. My short is also adding to my incoming theta. Regardless the TA & the news at our backs should give the bears confidence.
The moving average in this next chart - falling in line with the fib will give resistance that may result in some sideways chop this week - good for my delta neutral trades. My short is also adding to my incoming theta. Regardless the TA & the news at our backs should give the bears confidence.
Trade closed: target reached:
Short was closed this am in the futures market around 6am.