So the short trade didn’t pan out well. This market is starting to put in some rallies. Is the down pressure done? Or just letting up a little for a while. Looking at the chart, it seems it might go up a little before trend line, and Fibonacci resistance.
If DOW breaks above the trend line and Fibonacci level .5 and closes, it might be a reversal here. DOW will have alread put in a higher low. Last higher low (if it can be called low) was around Nov. 9th and was immediately broken. CMF shows some buying pressure building. Although, with 700pt move, the CMF swing wild.
This couldn’t happen at a more inoppurtune time for my Puts. Oh well.
Another almost 200 points! So yesterday’s 300 points and then today! That’s almost 500 points after a 700 point down. Only 200 points left to break even.
Will there be a minor pull to the downside? It’s very possible. I will look to exit my positions on the Puts.