In the past, the bottom fishing screen inside The PPT has been a great tool for finding infection points. What I don’t like to see is inverse ETFs, or the dollar for that matter, pop up on the screen.
Judging by today’s results, I would say we are ways away from being in the clear.
Although, there can still be money selecting the right stocks, the choppiness will make things a bit harder, especially for swing trades. Looking at the 30 minute chart of the Russell 2000, tells me loud and clear to step a side. This is not a market I want to buy into.