We are still looking for lower equity prices near term….
We feel stocks are still poised for a pullback from the top of the trading range. As you can see from the attached chart of the Wyckoff Wave Unweighted (WWU), the technometer is registering a 50.03 reading. We also have a divergence between the OP and the WWU price.
We have short open positions in SPY, VNQ, XLE, as well as the bond etf TLT.
In our Emini trading portfolio we have gone home short and expecting a few good down days from these levels. We hope to update tomorrow with a day trading video.