Markets sold off from get go though I was expecting some kind of consolidation today, but bears didnt want to rest as they had the ball and they ran hard with it.
Markets are at some very important support now especially SPY. Also internals are not getting any weaker so I am assuming this leg is overdone for now and needs to consolidate a bit. A good indication could come tomorrow at open if we gap lower and reverse quickly that could be a flush.
Intermediate term I think we go lower atleast till 83 on SPY.
Sector wise energy/ag commodities/oil got crushed today and healthcare was the only sector in green today.
Some longs still worked and I had a good trade in RT today.
Follow me on twitter for real time trade updates.
www.twitter.com/sidshar
About Me
- Sid
- A techy at heart who tries to keep in sync with ever changing technical and business world. A producer, architect, developer, leader, all rounder, like to do what I really love- Technology
No comments:
Post a Comment