Thursday, July 21, 2011

Market Update

 DIA 10 min

 DIA 5 min

 IWM 1 min

 QQQ 15 min

 QQQ 10 min

 QQQ 5 min

 SPY 15 min

 SPY 10 min

 SPY 5 min

SPY 1 mn

Obviously the market is deteriorating, the bounce is about in line with my expectations. There's still plenty of time for the Q's to make that breakout high, they were only $.05 from making it earlier. I'd certainly start taking profits from the long trades I recommended for the bounce and start adding some shorts. I don't think it's time to swing for the fences, but I would want my feet wet and moving toward a net short position.

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