Jobs Just Get in the Way…
of trading. Usually around 3:30 to 3:50 I would review most of my charts to position myself for the next day. But today I had very little time thanks to my job and schedule in Boston. A thorough review of my charts suggests the markets are overbought and time to short… for the short-term at least.
The SP500 failed to break out, despite the Fed cut today, while being in a over bought position.
Then there is the Dividend index that is in a similar position, but more so sitting on resistance and not a failed breach of resistance.
The DOG (Dow Short ETF) is sitting on support, looking as if it wants to bounce.
The SH look similar, but support is not as strong.
Judging by the after hours action, the markets may act weak tomorrow and this short play may seem obvious.
