Smack Down Time!

This is a special Evil Speculator alert as the spoos are currently hovering atop a major inflection point. Of course if you paid due attention yesterday then your sell orders should already be locked and loaded:

HHere’s what is getting my panties in a bunch right now: That was another ignominious fail for the bulls at the 25-day SMA and although we may wind up striking this one up to low vol holiday tape the setup is here and now and I intend to take it IF it triggers. Short at 1594.75 – which is a bit of a step down from yesterday’s Fakeout short entry but still evil enough to get us on board for a smooth ride lower should the spoos be inclined to breach the 100-day SMA as well as the next NLSL at 1573. Yes, indubitably quite a bit of support to slice through but a setup is a setup. If we bounce here then we’re back in limbo until the NLBL at 1614.25 which is our long trigger.

If we breach below the NLSL today then suggest you use the BPC to scale into positions – don’t bet the farm! I would add positions at 1582, at 1573, and if we get there then I’ll be sure to post the next bus stops.

Have fun but make sure you wear your loin cloths and Doc Martens.

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Cheers,