Wednesday, May 17, 2017

Short first time in a long time

Looking at the monthly charts of major indexes, as well as "horsemen"/pillar stocks - all of them struggling to get above TD Resistance line and time is tinning out for move higher.
DJ transports was having difficult time for a while now - not a good sign indeed.
Here is SPX chart - you've this one - you've seen them all.

P.S. Just looked at my last post as of 2/17 and glad that was sitting on my hands due to as I said "Is market about to run out of steam?" - it did indeed - was trading in the very narrow range for 3 months.

Will be keeping an eye on possible Crude Oil long - something is going on with that puppy...

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