SPX/ES Support Levels

/ES
CHART

SPX
CHART

These are important levels to watch. Anticipate further downside on Monday.

Good plays: long VIX, UUP, SDS, and short the /ES.
I picked up strong stocks at good values on Friday but this not something I would continue to do if the market weakness continues on Monday which is statistically likely.  There is a strong correlation between weak Fridays and weak Mondays.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: