The Hourly Inverse Trampoline setups I had been seeing this week and cautiously pointing out finally triggered Thursday. The markets dropped Friday and I think they should continue, possibly to the SPDR S&P 500 ETF Trust (SPY) daily 50-day simple moving average.
We never know how deep the pullback will be or how long it will last, but we should watch to see how individual names behave during this time to see if there are any relative strength candidates. See what I’m watching through the holiday-shortened week:
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