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Not Seeing Anything Worth Buying

Published 04/29/2014, 02:12 AM
Updated 07/09/2023, 06:31 AM

The markets bounced off the lows yesterday and after much selling on Friday and Monday morning it appears we could be in for a short term bounce in the markets. It doesn’t necessarily have to happen so I wouldn’t be a buyer trying to profit from an upswing, but if you have shorts it could be a good idea to cover or at least lighten up on the short side.

The area between today’s low and mid-April’s low is going to be the battlefield for the foreseeable future between those who are bullish and bearish. If that level can hold then we shall indeed bounce. The way I see it, we’re either going up and down or just straight down so it’s still wise to use any bounces to get short again.

COMPQ 2-Hour ChartINDU 2-Hour Chart

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