Bulls have stepped it up the past few days, but in the grand scheme of things, we're still in a largely Bearish Environment. In the ShortTerm, Bulls need to regain 8k, and even doing that doesn't put an end to this Bloodshed. But it certainly would go a long way to ignite those on the fence currently. Bears want to see this thing below 7.3k as soon as possible. Ideally, they'd take out that 6.7k, and claim another Victory! Walking it down to that $5440 I've been targeting for some months.
At 8.5k I may stop Selling the Rips...and wait to see how things resolve....but Currently, Net Short for the foreseeable future until some Key Levels are regained and tested.
At 8.5k I may stop Selling the Rips...and wait to see how things resolve....but Currently, Net Short for the foreseeable future until some Key Levels are regained and tested.