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|PRE-OPEN MARKET COMMENTS FRIDAY – As noted in my comments, I could not embrace this rally from a longer term swing perspective because of the price action. The breakouts did not have volume or follow through and that suggests that...
|1OP is preparing for a bearish cross and we are < 200-day MA. I am ready to short. The longer I can hold off, the better.
|The ideal scenario is a wimpy bounce to the 200-day. That would give us time to line up shorts and to evaluate the selling pressure.
|Short ES 4035 1/2
|I will short the other 1/2 on a new lod. Until then I am just going to watch the price action.