It looks to me like we'll have a SCBO tomorrow, "Second Chance Buying Opportunity".
There are quite a few assets that are just screaming on 10-15 min charts, some out to 60 min, but there are others that still need a bit of time and an early pullback looks pretty high probability, likely part of the reversal process range, although I doubt at this point there would be a lower low.
So I have a watchlist I'm compiling of assets that look really good, just not quite there yet, GS, GOOG, AAPL, maybe VXX, etc so tonight I'll be putting in probably 100+ price alerts for these assets I've compiled, but it looks like we have a good set up here and a little more time to get in to some additional assets.
The NDX Biotech index or IBB is one that is looking very interesting, the leveraged short version, BIS is falling apart fast, the long version BIB hasn't moved positive to the same degree that BIS has fallen apart and I'm sure that's because of some gun-shyness, but that looks like it will be an interesting one tomorrow as well so hang in there, I think we have a neat opportunity.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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