This is one of the most difficult rallies to get behind here.
The rally began and picked up steam as bookends of a three-day weekend where China was opening for the first time in over a week, and would have two trading sessions before we opened up for even one. And then there two trading sessions for oil before stocks would close out their first trading session. Despite the rally on Friday, it didn’t make sense to get behind it and risk holding those positions over a very long weekend.
Now as a result, you have a rally that has gone completely ape and now up 118 points since the Thursday afternoon lows were put in and there has only been two full trading sessions as of this writing.
So absolutely excruciating to not be able to fully maximize this rally while the short sellers continue to run for cover.
With that said, you have my list of short setups that I am currently following right now in the market. A lot of them are experiencing an incredible rally over the past few days but are heading right into key resistance. Whether that resistance holds or not is anyone’s guess, but if the market starts to sell-off again, you’ll want to target those stocks where their own rally ended at resistance and started to head lower again.
Here’s the bearish list:
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