Morning folks. futures indicating flat open so far. Oil ( uso ) GOLD ( gld ) both flat. The market has made a very nice bounce the last 3 days straight up into resistance. The next couple days will tell us whether taht is a relief bounce or something more significant. When market is under major support levels its always best to treat it guilty till proven innocent. wht i would like to see to really start puttingon some serious swing positions is a clean break of spx 1300 along with 50/20 day moving averages. these thing rarely happen on the first shot. If ur a bull and u see multiple taps of that area i’d view that as a positive as it could take a few before a break. We have worked off our “oversold” condition so the main catalyst we had for a bounce is gone and the market will search for a new one. I personally wouldnt be surprised if the market settled into a nice range till earnings season sans geopolitical catastrophe. if u believe this to be just that a reflex bounce then adding shorts here is very low risk as we are right at resistance. Ive added a swing position into SDS. I will unload it if the market breaksout. These are the best type of swings where you risk 30 cents to potentially make 2 dollars.
also all uraniums stocks will be in play today..i always keep a couple in my backpocket for runs.
I GOT TONS MORE! subs i did a video on how to play all these.
