The potential for a spike exists. A spike higher followed by immediate reversal would clear the books for a sustained move lower. My current stops are:
10,514 for DJ futures. This is tight because of low transaction costs and 5x leverage
Sell half of the ETFs if DJI exceeds Tuesday's high by 27 points. 10,588 + 17 is 10,603.
Sell other half at SPX 1129, which is the 15minute, 54-unit EMA +.56%.
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Steve
ReplyDeleteLooks like the only thing hanging on is the DJIA, rest of the indexes are selling off.
Jack C
Steve
ReplyDeleteSML just finished 5 down.
Jack C