On the bearish side of the ledger the rally on the Fed Chair comment affirming a holding off of rate increases failed in the afternoon as we closed on our lows for the 2nd straight day.
On the bullish side, the pull back, at this point is quite shallow.
I remain short and risking the recent highs.
Thanks joj!
We very much appreciate you sharing your trade and thoughts with us!
Lighthizer's comments that a trade deal is not a done deal yet, as well as Pakistan shooting down the Indian plane, certainly gave the market an excuse for a down move. But Stocks fought back all day and and closed marginally higher. I would call that bullish action. And so, I covered on the close for a small loss. (6 points S&P).
I'd be inclined to go short again if today's lows are taken out tomorrow.
Most of the time, markets go sideways and trading is boring.
Appears we need a 2-3 week softening of prices to the 2700 level IMHO