Friday, September 3, 2010

Market update (09/03/2010)

Ok ! we got the bounce that I was looking for. S&P500 exceed my previous forecast by 25 point. I was looking for a bounce from 1040 to 1090 but it moved to 1105. Note S&P500 has potential to rally higher as long as it stays above 1075, but I'm going to play aggressive. S&P500 from 1100 to 1131 is a good short entry, stop lost at 1140.
If S&P500 stays above 1131 for a couple days you have no business to be bearish. Lets see what's going to play out by next week.