The S&P doesn't usually rally 14% in less than 4 weeks.
With 14 of the last 16 trading sessions closing green, I am inclined to fade this rally.
I cant help but see the eventual capitulation for risk assets as the global economy shows signs of turning over.
This IS a bear market rally and will come to an end. I am looking for resistance around 2700, I had thought 2600 was going to hold but apparently not.
There is always a way for the market to make a fool of you. I wont be putting on my short positions until I see some confirmation of a topping formation.
Fighting the market is how you go broke..
Cheers
With 14 of the last 16 trading sessions closing green, I am inclined to fade this rally.
I cant help but see the eventual capitulation for risk assets as the global economy shows signs of turning over.
This IS a bear market rally and will come to an end. I am looking for resistance around 2700, I had thought 2600 was going to hold but apparently not.
There is always a way for the market to make a fool of you. I wont be putting on my short positions until I see some confirmation of a topping formation.
Fighting the market is how you go broke..
Cheers