Market Wrap Up: 4/09/2012

The bears are very much in control of this market. Profits are rolling in if you've been following my calls. We could have a flush into the daily 50-MA on the SPY tomorrow, if we close at the lows of tomorrow, WATCH OUT! I will release the major levels tomorrow.

Market Wrap Up: 4/05/2012

The markets are weak. A top is most definitely in at this point. We had a very weak job report on Friday and the futures are down over 100 points. SPY is heading to its 50-day moving average. Stay tuned and profit!

Markets are up but they are weak too. I was expecting this kind of behavior, I picked up some longs but they are only 1-day plays. I'll look to dump them as we approach the closing bell because I'm expecting a buy program to hit the market at the end of the day. If the buy program comes; great, if not, I think there will be a lot of selling coming as traders will not want to hold long positions going into tomorrow's job report. I still have all of my short positions.

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Market Wrap Up: 4/04/2012

Great day for those of us that are short the market. My call for a top held perfectly. I think tomorrow will be an up day which will be perfect because it will allow us to short even more. Any bounce will be short-lived in my opinion. With that said, I don't think these markets will go back to re-test the recent highs. A 50-78.6% retrace will be the time to jump short again. If the SPY retraces back to $140.80; I would look to go short and enjoy the ride down.

Market Wrap Up: 4/03/2012

The market is behaving different these days. The market isn't advancing in a light volume environment and we are beginning to see sellers come into this market. Gold took a big hit today on the back of a stronger USD. A strong USD usually means a weaker market. My call for a top remains as it has since this market topped 5 trading days ago. I think we have a good chance at breaking the 20-MA on the daily chart tomorrow.

Market Wrap Up: 4/02/2012

I remain bearish on this market. I still believe that the top is in and my top call hasn't changed. I added to my short positions today. Although we made new 52-week highs notice how we closed right on my top call.

If we reach double-top on the SPY, I will look to go short again. Approximately $141.85 on the SPY.