Bears so far has put in a lackluster effort of driving this market lower, but despite yesterday’s rally, still has the favor of all the daily charts on all the indices.
If the afternoon can treat them kind and wipe out the gains from yesterday, and perhaps break the lows from last week, then there is a legitimate opportunity to confirm at some point this week the head and shoulders pattern at 2039 that has been forming in slow motion.
Careful with the short setups, look for opportunities in the stocks below where they simply aren’t chopping around intraday but actually making new progress to the downside. Many of the charting patterns below are exhibiting nice tops. I’m shorting two of them already and may add another if the bears can seize the day.
Here’s the short setups:
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