tangman

Stocks: Short term bounce, not bottom yet.

AMEX:SPY   SPDR S&P 500
Seeing bullish MACD divergences on the hourly charts, I believe this first decline is nearly over. On the daily it shows a fairly clean 5 waves down.

I believe there needs to be a 1 or 2 week hope rally before there can be further downside.

That said, I am slightly long SOXL             for a short and convincing ride.
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