Exit all short

I exit all short position at 1378.75. I smell some upside before downtrend to continue. I decided to take profit.

As you remember I Sold 2 S&P e-mini short contracts. First at 1382.5 and the second at 1421.
For the first contract ,the gain was 3.75 points and for the second 42.25 points.

The trades were posted real time in my swing it trading system.

The performance sheet of the blog will be updated as well.

Good trading

Adding one more contract

I am adding one more short at 1421. This is the first time I am adding contract my current position in the blog.

The reason is that I have swing it collective2 system which can easily track the position.



Good trading

So when we are going from here?

The market as always doing us a difficult job but it seems to me the recent price action has been very challenging.

Will the SP500 continue move to 1450 ? The down trend is over? Are we going to collapse from here? Are we in the end of recession or maybe it's only the beginning ?

My view for the short term is that the market has a little space for further move down.
The volatility has been very low over the last two weeks. My analysis shows it need to rise significantly over the short-mid term. So that what makes me to be very cautious on the long side for the mid term.

In conclusion, This is a very difficult time. I will examine Monday's market behavior to finally determine what to do.

Good trading