$SPY just did not made it to the 136.69 level as I suggested in the $SPY read, and is now falling apart. Being short today for now is the best position one can take. There are some names that fell a lot already, But we are stabilizing here just under the 135.77 level. At least as I write this.
I think we will rip up again in the afternoon. So far I suggest you all some caution. Let the setup come to you. On my chart 135.70 is the break out level, but I think that 135.77 is the confirmation, as one will see the individual equities move significantly above that level.
Watch for names like $CAT if it can hold the 83.03 level which in my charts is the 3rd support level. Another name is $MCP if it can go over 21.21 and stay there, could be a quick run to 22 if market cooperates.
I did short $WLT at the open today and had a .71 cents gain, right now it is in the middle of a range between pivot point (44.26) and 1st support (42.92). So no setup there, just one of the best stocks for you to feed your broker with money from commission and 2 transaction buy an get stopped. don’t fall for it.
May you all have a good continuation of your day.
