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Was That It?
Markets sold down last week with a little conviction. This was at least good news for the short index positions in staff personal accounts here - we were able to cash out SPXU and TZA with some realized gains and we're now unhedged long in the S&P500 and the Russell 2000 as a result. Each of the index charts looked to be finding short term support Friday. Early Monday, futures and pre-market equities were up; weakness in the yen and subsequent strength in the dollar (which makes it more expensive to buy US securities) has applied some downward pressure to equities in the early session.
It's early in the week so let's see how this pans out. For our paying members only let's now walk through the shorter- and longer-term outlooks for the S&P500, the Nasdaq, the Dow and the Russell.
We include more detailed Cestrian staff personal account trading plans in our charts - these are disclosures rather than commandments, we include them to (1) clarify our own thinking and (2) to help explain what we think about the direction of markets. Paying Inner Circle members can reach out in Slack anytime to discuss. You will, of course, make your own decisions as to how to use our charts in your own work.
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