Market Watch

The SRS gaped way up today so we will have to wait for an entry, do not chase it here. OIL is still in the well defined down trend alluded to in yesterdays post. We are short 50 shares of OIL and there is nothing to do but move the stop down to 54.79. If the IVV breaks the 138 support level we may have to set some stops. Or we may reverse the direction of the trade i.e. hold both positions until the Plungers come alive, then cover the SPY and ride the long IVV back up. If nothing seems to be working we can close both trades for no loss Wait for the alert.