I did not post earlier as I would have been redundant. The move down was so severe and so fast it demanded a retrace, and so we have it.
Make no mistake though this market is in trouble. The resumption of the selloff is likely between 1880, to 1930 area for ES (futures of the S&P). We will just need to wait and see now. It is the bears turn to pick tops, and the algos to screw with them for a few days.
For us, the Signal registered buys on IWM and AAPL yesterday, and those are in addition to XLE, USO, XIV, and GDX long signals. We closed our GLD long signal with a profit earlier this week. I am also holding 24, 26, and 27 VXX puts for next Friday. all but the 24's are profitable for now.
I plan no trades today unless the market tells me to sell something.
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