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RE: Lions, Watch For That Cash Rotation Back Into Tech I Have Been Talking About. By Gregory Mannarino

in #money7 years ago (edited)

There may be a "surprise attrack" on the SPX here. It signaled short term sell this morning on the open and as you know I came into this trading week looking for a short term sell signal on UVXY. If UVXY is still going to singnal sell there is now alot of rally left in it after this opening drop. So if I was long FB I would be concerned, cept that you have a longer term long...out to Sept. So you can "kinda" relax. But at least learn to not buy gapup moves like you did via AAPL today. :-) Here's the short term sell on SPX. I'm not picking on you. I'm just showing you that sometimes you need to look in more than one direction at a time. My "overall" take is based on solely the VIXens and this sell signal on teh SPX.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spx&x=59&y=11&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11

Actually, scrath the sell signal. In the brief time it took me tp spew this the SPX has now set a signal that this morning's high will get taken out. So this makes things a tad more positive. SPX may still sell off...but there would be no reason to panic if you are long. I will be looking to buy the SPY (altho perhaps not personally) on a pullback. I'll do a new blog on that at my steemit blog "if" it actually happens this way.