All major indexes are struggling to crossover resistance... short signal TODAY
I've never blogged on Motley Fool before... So how's for a first try.
Great short signal today in my opinion. For that reason, I've entered long orders for all the proshares and direxion bear etf's that I'm interested in watching. Should be a nice decline in the overall market until the end of the month. At that time, we should see a great buy signal.
I'm also about to enter a short signal for all the bull ETF's. If the markets burst through the resistance levels today or tomorrow, then be prepared to see much higher levels across the board. I do however think this is unlikely however, as we already are seeing weakness in oil, which will continue over the next couple of weeks.
After a couple weeks, I will be closing all of my positions, and reverse everything. I will need to find the support levels at that time, to determine the most likely stopping place at the turn of the month.