Gave all of Tuesday back plus some and that just goes to show that the current environment for stocks is really uncertain. No one that I monitor is all in either short or long because no one knows which way this thing is going to break. I will tell you this, the next 2 or 3 days should be lower because today we created a pivot high, which means you normally head lower when this happens. The chart above is a 10 minute chart and doesn’t show the daily pivot, but it does show the give back. Right now futures are down 2.25 points and the Japanese markets are down 2%. Tomorrow could be ugly to the down side and I know I will be trying to short the S&P 500 with my play money while my Retirement remains all G. The bonds had a killer day, but they too are being a little unpredictable.
If you are going to go all in, wait until we get to the last low of 1289 to 1290 before you jump in. Me? Too chicken.
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