CJ, I want to go long on another low. I wish I had made more profit on the shorts but the market set up for this bounce. I'll be taking a tiny short at SP futures 1094.25 (if it gets there) but won't be big enough to even mention in the blog. I'll go long in 2 spots, SP futures 1080 and cash DJI at 10,210.
The EWI possibility of a third of a third is looking less likely at the moment, but if the market returns to another low, at what point would you begin to think that the third of a third was here today (or tomorrow)?
If DJI breaks the 5-minute, 380-unit EMA by > 1.25% then I'll figure the tide has turned. Until then I must assume that every selloff is a buying opportunity as long as I1 is rising.
Where do we go from here - short again, or go long until 7/21, and at what price?
ReplyDeleteCJ,
ReplyDeleteI want to go long on another low. I wish I had made more profit on the shorts but the market set up for this bounce. I'll be taking a tiny short at SP futures 1094.25 (if it gets there) but won't be big enough to even mention in the blog. I'll go long in 2 spots, SP futures 1080 and cash DJI at 10,210.
Hi again Steve,
ReplyDeleteThe EWI possibility of a third of a third is looking less likely at the moment, but if the market returns to another low, at what point would you begin to think that the third of a third was here today (or tomorrow)?
Josh
If DJI breaks the 5-minute, 380-unit EMA by > 1.25% then I'll figure the tide has turned. Until then I must assume that every selloff is a buying opportunity as long as I1 is rising.
ReplyDelete