The stock indexes are in an exceptionally interesting configuration: almost without exception, every major cash index has hammered out a well-formed diamond top reversal pattern. This examination will be repetitious in that respect, but let’s press on.
First up is the NASDAQ Composite. I’ve lazily drawn a rectangle to represent the diamond, but trust me, it’s there.
Last week was a doozy: Monday and Tuesday sucked out loud, and Wednesday and Thursday more than made up for their suckitude. Let’s look at ten ETFs.
The DIA is the odd man out. It hit a lifetime high. Mercifully, my concentration was in tech shorts.
Since we are in a holiday weekend, I’m going to be lazy and share all 39 of my live short positions in a series of posts. As always, I have zoomed in to the most relevant portion, and you can click on any chart for a larger view (which includes a dashed red line where my stop-loss is located).
