Lately there's been a short covering rally in high yield/junk but I think that ends soon with big tech earnings, FOMC and all of the other economic data releases this week. Macroeconomic picture has not changed.
Don't think we break this downward trend line that's been in place all year. I'll also take a long position in TLT to offset exposure.
Incrementally adding to a short position here up to 176. Don't see this trend line from early June breaking. If it does I think the buck stops at 176. If you think funds are going long small caps in this environment, you shouldn't be in the market. Not financial advice.
Could go either way but I like this breaking out to the upside. Strong support ~$97-$98. Stochastic points to the upside on 4HR. 50 EMA has been acting as resistance and I would like to see a close above. What's everyone's thoughts?