#stocks #crash #crude #aapl #amzn #fb #nflx #googl Monday's rally made it up to 3 points shy of the lower edge of my target range before failing miserably. I was surprised at the failure to even reach 2,816, but not by the subsequent decline.

Put simply, this is very bad action for the bulls - profound weakness in what is supposed to be a seasonally strong period of time.

This morning, I'm watching crude oil carefully. If it manages to hold above $50.51, it may take off to the upside and move towards my target range of $58 - $64. If that occurs, the equity indices could get a modest tailwind.

The move for stocks is to sell rallies for the time being. Sell troublesome longs on a bounce to 2,720 and look to short on an extended rally to 2,750. The downside target for this down phase - after you sell bounces - will be 2,530 on the S&P futures.

Posted to Peak Analytics' Direction F… on Dec 06, 2018 — 9:12 AM
Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
Want to add a comment? Take me to the new comment box!

Reviews Average Rating          

Excellent advice these last turbulent months...
Wide stop loss and small at profit taking but that's their style.
See All Reviews →