Good morning. Market has opened weak again, but we're slightly off the lows (oh no, do I sound like Bartiromo?). VIX is...red... again! Really?
*consumer sentiment comes in better than expected...helping the bounce begin.
I can't be shorting....yet.
I am all cash, waiting to short on the next bounce...somewhere in the 1385/90 range, this afternoon is my target time frame.
Weekly charts still target 1345/40, which I'm guessing will be hit next Mon/Tuesday.
Yes, I'm looking for a major capitulation day early next week, a dow -400/500 day. A wash-out move, which then starts a severe reversal back to 1400.
back at 12pm (or earlier, if anything happens)