A few reasons why I am shorting this bounce

[waggie945]

1148.70 was the S1 today in the S&P and sure enough, the market caved-in once this level got taken out with 10 minutes left in the cash session.

Certainly looked like a large program trade at 3:50PM

 

[ElectricSavant]

Told ya.......nanny nanny nanny go

Michael B.

Quote from ElectricSavant:

I am currently saying that over the course of the next few days to weeks the market has a higher chance of continuing its move lower.

I can agree with this now, I will "weigh in" and say for the general market direction for this next week, I say down...

So enter less longs for your swing trades...as a stocks direction is 60-70% dependent on the general market direction.

Michael B.