The hourly chart of the major averages is now showing bearish divergence on MACD and RSI, after a short-term overbought reading last week.
Also the SPY chart has now closed an open window from 8/10-8/11. The associated gap is not yet filled, but in any case, this area could be resistance. So I am going to post a short-term bearish ETF trade here. At this stage I don't expect this rally to be completing here, but it seems due for a pullback.
New Blog Trade:
Buy TZA today with a market order. The current price is 31.47 which will be the blog entry price.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment