SHORT ME TINA
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Sensing some weakness in the index. The $SPY is right on the verge of breaking its 6 month uptrend. If it does; I will be bearish (short term).
$SPY levels to pay attention to are $218.54-$218.75. If the markets close below $218.54 on Monday; it will be one reinforcement in my short term bearish thesis. Our portfolio is mainly long right now because although I think we are in for a short term pullback, the stock market remains in a multi-year uptrend.
At the end of the week (8/26/'16) we have to end the week closer to $217 on the SPY to reinforce my short term bearish outlook.
Continue to watch the market.
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