This update shows a short setup of sorts, reflecting why I shorted SPX and SOX yesterday. We are not yet in the realm of clear short setups, but this one was worth trying for my purposes. Not a reco, as short positions can be annihilated with one flap of Trump’s gums.
SPX is rising to fill last week’s gap down, in what looks like a little bear flag. A look at SPY would show low volume relative to last week’s volume on the drop, which is consistent with a bear flag.
My short positions are against some “bull stock” longs still held. I’ll hold the shorts as long as the bear flags look viable, but no longer.
NFTRH+ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
