Thursday, May 20, 2010

Market Thoughts And Setups

Attached are some solid looking charts that look ready to break lower any day now. Today was the first day, i actually ran scans for short setups and my conclusions are simple: BEARS IN FULL CONTROL! At this point, any bounce we see in equities will only wet the bears appetite.

This market is going lower in my humble opinion and i am starting to get very confident of this. At this point any bounce we see even the slightest bounce should be used to re-load short positions. Pressure is slowly building and this market is setting up another leg lower in the days/weeks to come. At this point, i would happily welcome a bounce here! Only problem is will we get it?

Truly exiting times for the true traders!

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