My cycle models and my technical indicators are both screaming “sell” for the stock markets. There have not been any changes in them, everything still points lower into early October.
The S&P 500 fell 2.5% on Friday and rebounded a bit yesterday. That is perfectly normal market action and is giving you an opportunity to take advantage of the next move lower in stocks.
In fact, yesterday’s bounce was a near perfect test of prior support, which is now overhead resistance. Check it out on this chart here …
With cycles pointing lower and the technical chart pattern bearish …
I recommend buying shares of Direxion Daily S&P 500 Bear 3X ETF (SPXS).
Here are the details for the new SPXS trade that I am recommending today …
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For ALL Members: Using 3% of your trading funds for this service, buy Direxion Daily S&P 500 Bear 3X ETF, symbol SPXS, at the market. Place a good-till-canceled protective stop loss on ALL of your shares at $11.18. |
Hold all other positions and related stops.
Best,
Larry
