Quick EOD Update

Tonight, after the close in fact, I'm driving from South Florida to Savannah Georgia so I can be there in time to cover tomorrow's market.

I will post an abbreviated Daily Wrap after the close. 

What I see right now is some intraday 3C weakness, I suspect it's either op-ex related or we are going to continue to build a larger base. An Op-Ex Friday is not an ideal day for a bounce to start with the normal max-pain pin in place, unless the max pain level is higher, but after 2 p.m. the market pin is released.

The longer term or intermediate 3C charts support a larger base and if we do get a bit of a pullback, I'm very likely going to add to the 50% URTY and TQQQ 3x long IWM and QQQ positions.

For now though, I'd expect some near term weakness that broadens out the base, which for a bounce, will give it a more stable platform, a base that's easier to trust and a stronger overall move.

I think we have a good speculative counter-probability or trend as the IWM goes, trade in place or still have time to put it in place before re-entering short positions like SRTY. The vast majority of long term core shorts I'm leaving in place, just the easier to trade 3x leveraged ETFs like SRTY, SQQQ and FAZ.

I'll have more shortly.