SPY BULLISH IN A BEAR MARKET

A lot of people thought today would be a black Monday scenario surprise it wasn’t. One of these days we will hit the circuit breaker at -6% but that won’t happen for a while. We are heavily shorted right now and a couple good earnings will squeeze the market creating a rally of 10% or more so be careful if you are in a short position. The biggest news today was China it doesn’t even won’t to release fake numbers for its GDP that’s alarming. They are also betting against the dollar, that could collapse China if it doesn’t work out its a crazy move by them we’ll see what happens. Currently there is a shortage of dollars for the world that’s going to make it stronger and create a market crash in the future. In the meantime we got chopped up today creating a daily inside bar it looks bullish I wouldn’t be surprised if we hit 372 tomorrow and go for a 100% retracement as we get these earnings numbers. Buy the dip mentality is still alive seems like Wendy’s handed out raises last quarter. Todays premium killer day is a warning for a strong move this week. As always trade what’s in front of you good luck