Today started out promising for the bulls we had a small gap up, a rally and no headline disasters, but ultimately it wasn’t enough and we closed at the lows. It has to be pretty discouraging to the bulls that they can’t string together two decent days in a row.


Until the SPY resolves this triangle we are in for the choppy action we have been seeing recently.

My belief is that we are going lower, probably SPY 100. However there are so many eyes on this SPY 104 level that it could be pretty choppy when we get there. I just think that the bulls can be disappointed so many times until they decide to give up and look lower. Until this triangle is resolved either up or down take it easy and don’t press.

The following ideas may be actionable tomorrow. Some of the short alerts are a little far away and may act as support if the market bounces again so be nimble until we get some clarity.

bvn 38 long

dhr 74.16 reversal/support buy on 200 day MA

fslr 100 short

ge 15 short

grmn 31 short

ipi 21 short

mfe 31 short

shld 77 short

x 40 short