Based off of the near overbought short-term readings and the stalling action today, I think that I will end up posting an inverse ETF trade next week. I have used QID before which is double inverse of QQQQ (Nasdaq). I may suggest DXD next week which is the double inverse of DIA (Dow 30). The Dow is in the weakest technical position, though it tends to be a bit less volatile than the Nasdaq. I like volatility for short term trades, but usually it is best to play the laggards when expecting downside.
If if play this, it will probably be by buying puts on the DIA ETF.
Pete
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