Aug 132016
 

The DJI fricken finally hit an all-time new high on Thursday. I’ve been patiently waiting cause it seems to be the major index that’s been trying to play catch up. So now being short is a little easier for me.

Will it get to the upper trendline?  Maybe but I doubt it.

2016-08-13_DJI

It’s showing a little trend in this push up but if it breaks my moving-averages then I will be looking for an extended short swing trade on the DEC future contracts. But which one should I choose?

2016-08-13_IndexFutures

At a quick glance is seems the NQ is the most over-baked at this point with it being extremely over bought for the last, I donno, month! WTF!  It’s really hard to say.  Pic your poison. I like how the TF is looking just cause I really don’t think it’s got much left in it and it seems the weakest. If it does go then I’l be looking for a solid 1200 test then an extended push into the lower value area and a test of 1150.

2016-08-13_RUT

I do like how the NDX is so over-extended and a close below the old high of 4740 would be a great sign of more short sided trades all the way back to 4500.

2016-08-13_NDX

The SPX is stupid. I’m sick of this index but as you can see it too is over extended and I do have short orders in a little higher up just for the hell of it.

2016-08-13_SPX

Either way this market is ridiculous and I won’t be going long, besides the occasional scalp when they kill the bears.

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