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If SPX is going to pullback at all it happens during the week before OPEX....Could hit 2010 and you just hold your nose and go long there....I had expected the start of a significant pullback below 2000 to 1950 this week but now have doubts about trying to short this market despite the overbought technical conditions...Commodities and PM look more interesting to trade than trying to short SPX... until end of 2014.
Yes it was looking ready for a pull back at 2000 but the bulls didn't budge. I'm concentrating on the better setups as well such as oil, uranium and soft commodities.
If SPX is going to pullback at all it happens during the week before OPEX....Could hit 2010 and you just hold your nose and go long there....I had expected the start of a significant pullback below 2000 to 1950 this week but now have doubts about trying to short this market despite the overbought technical conditions...Commodities and PM look more interesting to trade than trying to short SPX... until end of 2014.
ReplyDeleteYes it was looking ready for a pull back at 2000 but the bulls didn't budge. I'm concentrating on the better setups as well such as oil, uranium and soft commodities.
ReplyDelete