Selling may not be over.. patiently waiting for another pullback

OANDA:SPX500USD   S&P 500 Index
If you're already short (I have been explaining why I was short last week) then holding a little longer may be fruitful - the price consolidating at this low of 2338 is telling of a further sell-off.

It tells me the market is still in shock from this rapid sell-off yesterday, with a bid temporarily propping up prices. Non-professional investors will likely wake today and place further sell orders.

Take profit before re-entering short on a pullback - I'll follow up with this as it arises.

If you're looking to go long, then hold until a drop to 2330 or 2320.


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