It was a tough day to be a bear, but any bear will know the toughest days usually come before the easiest days. So while a bit caught out by the rally of the day and wishing I'd made better exits on running profits I am not deterred in trying new shorts into these sharp rallies.
The market is parabolic up into a 161. When we see this happening into a harmonic zone it's always worth considering that might have been the D leg, known to be parabolic. These are very often news related moves. If SPX can break and hold above this 161 this indicates it being bullish in the near future but if it rejects this level the following downswings can get bigger than the previous ones.
The market is parabolic up into a 161. When we see this happening into a harmonic zone it's always worth considering that might have been the D leg, known to be parabolic. These are very often news related moves. If SPX can break and hold above this 161 this indicates it being bullish in the near future but if it rejects this level the following downswings can get bigger than the previous ones.
