Swing High

The major indexes are down hard today. The VIX, TICK, and TRIN are confirming the move lower. The SPY is forming a low base on the daily chart and the IWM is once again in a confirmed double top formation.

No trades for me today as there is too much uncertainty at this point. If SPY breaks down out of its high base I will start picking up short positions (most likely FAZ, TZA, and/or SPXU).

Thanks for being a part of Swing-High.com. Always trade with a stop loss and manage your risk appropriately. Check back later today or tomorrow for your Post Market Analysis and/or Weekend Review.

Happy Trading,
Jason

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