The SPY is holding at Floor Pivot S1 ($118.40), but adjusted tick is very negative and the AD line is headed south. I don't think it will continue to hold and I'm trying to leg out of my long trades entered at this level. Take a look at the headlines today at financial news aggregator
Calculated Risk:
- TED Spread Blowout
- Russian Stock Market Crash Continues, Trading Halted Again
- Single Family Starts: Lowest Since 1991
- Report: Regulators Looking for a Buyer for WaMu
- Large Money Market Fund Freezes Redemptions
This thing just keeps on getting bigger, and what we've seen so far are not "special cases." Do your best to manage risk today and take a close look at this article at Traderfeed.
Breaking News: SEC Short Rule Changes.
The above story is the opinion of the author only and it does not reflect
iStockAnalyst opinion. Further, the author is not personally advising you
regarding the suitability of the story for your investment needs. In no event
iStockAnalyst will be liable for any loss or damage including without
limitation, indirect or consequential loss or damage, or any loss or damage
whatsoever arising from or arising out of, or in connection with the use of this
information. Please consult your investment advisor before making any investment
decision.
