spx

I wish I could had a better read on where the markets are heading tomorrow, but to be honest it’s a coin flip. You’re basically pitting short term strength against long term weakness and right about now I can see a strong case for either to win. I would lean a little bit more on the bear side right now as it seems like we’re ready to start a new leg down as we’ve stalled near RSI 60, but this market has a tendency to whipsaw. I would be careful about getting to short crazy and scale into new positions as the market provides decent entry points.

Earlier today I scaled back my short etf’s 50% and will let the rest run emotion free, setting stops at my entry points.