Perhaps the most bearish aspect about today’s price action is the nearly 2% loss in the small caps housed in the Russell 2000 Index. The action smacks of distribution, yet again, undermining the progress bulls had made since last week’s lows.
Those high beta issues, seen on their ETF daily timeframe below, got rejected at the middle Bollinger Band (20-day moving average), and now can move down the lower band at roughly $109 next week. At a minimum, that scenario needs to be considered now as a probability.
A few shorts I am considering here, depending on the price action over the next hour or so: AXP DIS GM GS.
_______________________________________________
thank you. Reentered today short. Measured move could be up( better down) to 104. what do you think? mi piace la tua analisi. ciao
Secondo me, più basso da qui.
cioè fino a ??? next measured move?
Durante l’estate…
JPM short?
Big banks all look like shorts to me.
The hope and change bust.