A Plethora Of Short Set-Ups
The SP500 has had a decent bounce over the last four days, +6% to be exact. It was only last week when there was panic and despair in the air; you were able to see it in the parabolic move that the Gold and the Gold miners had. My phone didn’t stop ringing from people who realized that when the tide went out, they were swimming naked and now wanted a plan. If you believe that we are in for a rough year, then the market has given you the opportunity to sell at better prices.
As we approach some resistance on the SP500, my scans are spitting out a whole bunch of short set-ups. For me, it is going to be very interesting how these short set-ups react over the next couple of days. If they start to trade sideways instead of going down immediately that could be a sign that better times are ahead.
Short set-ups: ACN, NKE, EFX, HBI, CCL, ADBE, LVNTA, W, AMZN, CRM, MAA, PSA, STZ, EXR, SBUX, SPG, ULTA.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at email@example.com or 646-480-7463.
This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this blog constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog. The stocks presented are not to be considered a recommendation to buy any stock. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
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