Bearish at the moment, but if we break today's high, we're going much higher IMO.
We're in a critical point actually at the moment.
Your "opinion" isn't really going to make much difference though to be honest.
Anyone take a look at SLM lately? Seems like a nice storm brewing with everything that's going on. Could get nasty if jobless claims rise. Seems to be a bit over-looked.
Thoughts?
Fundamentals are still bearish, and technicals have just turned extremely bearish.
Who's gonna be last in line to sell this time around?
We're going to 10,000 get outta the way.
Some neat graphs there. A whole different perspective.
Some look to be a bit lagging though.
Explains the GSE issue though. The equity markets need to discount that still.
Correct either short a rally or short a partial now...wait and add below 123 (SPY).
Either way, no full position yet is how II'm playing it.
Target new support (or trailing stop). Personally going to add @ new low IF it gets down there.
Expect flat to slight loss on this trade as usual.
Short opportunity here still (partial). ADD below SPY 123 and then new low. Probably going to get some more fallout from LEH and the GSE's. Hopefully it's not too bad though.
Stops above key support regardless.