I am still holding DXD, and am look for the market to contiune to sell. Today we did get a bounce of the 20 sma, but I think we will still need to correct more and the 20 will not hold the rest of the week. The MACD has just crossed and the fast stochastic have come out of overbought with the slow soon to follow. I still think the market direction is lower. For me to become bullish again I will need to see 870 level taken out on the S&P 500, and i think we will see 810 before that.
So i was wrong with the end of the day direction on the markets. Here is the 15 min chart of the S&P 500. Looks to be forming another rising wedge. A break down out of this patten should bring us back down to the lows of yesterday.
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