S&P changed 0.1% last week. We had major down days and a quick reversal from mid of the week. Looking at the market breadth, I don't see any heavy buying in this market. I would like S&P to 1377 to add high risk positions. If we get the supply like last week, we may see a quick reversal to test low level of 1343 of last week.
Overbought-oversold ratio shows positive sign in this market.
In general, I am not ready to take high risk unttil S&P crosses 1377 level. I will be looking for both long and short possibilities and mostly adding light long position and may add TZA for backup..
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