BRIEF BROAD STOCK MARKET UPDATE (3:45 pm EDT)
I may have been too tight with the stop loss I proposed for yesterday's trade of a short position in the broad stock market. Resistance in the DOW now exists in a range from 17,700 - 17,800 and is strongest around 17,800. Today's "relief rally" was pushed back strongly at 17,800, but the DOW is closing above 17,700. I am going to hold my short position in the broad stock market until we start to see that 17,800 level breached. Technical signals are still looking bearish.
I may have been too tight with the stop loss I proposed for yesterday's trade of a short position in the broad stock market. Resistance in the DOW now exists in a range from 17,700 - 17,800 and is strongest around 17,800. Today's "relief rally" was pushed back strongly at 17,800, but the DOW is closing above 17,700. I am going to hold my short position in the broad stock market until we start to see that 17,800 level breached. Technical signals are still looking bearish.
RSS Feed