Next floor is 1250, but personally I have another scenario in mind...
try this one on - the market drifts south until the next FOMC meeting mid-June (now Sue, don't hate me for the market's action, I don't make it go down...), with maybe a two day bull trap next Monday and Tuesday, with another hiccup on the way down. Then, come the Fed meeting, the market is either down enough for them to repent the bias, and the market goes up, or they install a rate hike, at which pint the market tanks and that is thereversal day for the next climb back up, or they do nothing and it does a little horizontal correction until earnings start coming out.
Anyway, I'm sitting on the bear fund and a couple of trades I'm down about a grand each on, for awhile longer, and the next big buying day should be on Friday if there is any chance of a Monday rebound. Other than that, though, the volume wasn't real heavy, and I didn't see any large buying at the end or at the lows.
lastshadow |
