Where Will We Close?

Well, it is looking more and more like we won't get the big drop we were looking for today. I was hoping to see some more volume come into play here towards the end of the trading day/week. We have not. If we can just close below the 100 day moving average (on SPY), we can at least be sure that we won't close the day any higher than the current range of $106.80 to $106.90.

Looks Like the Decline Has Begun

We just closed below the 50 Day Moving Average on the SPY 5 minute chart. This is probably the start of the drop. We cannot confirm though, until we close below the 100 Day Moving Average.

One Last Push Up to Retouch the Highs from this Morning?

I will be surprised if we don't make one more push to break the high of $107.40 on the SPY. If not a push to break the highs, at least a push up to wiggle out any of the less confident short positions before we begin the decline that will close out the day. May look to make some scalp plays over the next hour. Before I maximize my Short Position.

Market Threatening to Break New Highs... Its Funny

Yesterday, while betting against the market, I had fear when the market kept threatening to break new highs and when it actually did break new highs. Today is funny because the market is doing similar things, but this time, I have no fear. I almost keep routing for the market to move a little higher so that I can add to my short position. Normally this would be bad practice, adding on to a losing position, however, there are times to break that rule. This is one of those times.

How to know when the market will turn over officially

Looking at the SPY 5 minute chart, the first thing to confirm is the close below the 100 day moving average. This will set the market downward and new lows should be achieved.

Short SPY at $106.83

This is a new Short Position... I didn't have a chance to post, but I covered my position from yesterday at $106.40 at 10:44 EST

Jobs Data Influences Gap Down - Then We Rally After Market Open

If this rally continues to show strength and breaks through the $107.33 resistance, the next point will be around the $107.73 to $107.85 range. That should be the ceiling for the day, if we break that level with any volume, we could see a strong move beyond