• bearish-trade-setups-5-27-13

Yesterday the market showed signs of the bottom falling out, today the market is acting like yesterday never even happened. 

That creates a market that requires blind faith when buying and blind faith when shorting, because regardless of the support that is broken or the breach in resistance that is achieved, there really is no boundaries for the market in terms of consistencies in patterns it tries to form.

Instead the market can be compared to a feather that floats aimlessly while caught up in an afternoon breeze. 

So focusing on tomorrow, there is just as good of a chance that SPX finishes up 1% higher as it does with finishing 1% lower. The edge in determining short-term market direction is absent yet again. With that said, I have provided some of my short setups, but I haven’t acted on any of them, as the market is pressing the shorts hard today, and provides us with no reason as of yet to add any of the short setups below. The 2120-2122 range on SPX is going to be key going forward and if it can break back above it, there may be a slight edge for the bulls to play with. 

Here’s the list of short setups:

 bearish-trade-setups-5-27-13

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