Time to go short!!! – Market Update
wow, what a signal from the market that new stimulus from the FED will not be sufficient to provide anykind of relief for the economy.
It is time to go short! but it's also critical not to get caught. So, if you're setting up the trade you have to be mindful not to get trapped.
The charts clearly shows familiar patterns like the bearish flag and mini head & shoulders on the daily charts. These patterns are so obvious for the whole world to see. Therefore, one should be cautious of getting trapped.
Here are the charts: and wow do they speak volumes about the current state of the world and investor's confidence of where things are headed.
If s&P breaks down here, we are head for below 1000 (to 950 – 980) . Nasdaq is performing a little better and given apple broke out in the last week certainly helps the tech index.
