Equities are bouncing higher at the time of this writing.
Great. I’m non-directional in my own book at the moment, but with today’s action I’m gaining on two of my positions by a fair margin … down a small bit on the third. All, in all, I’m green, as I have been since June.
What a year.
We even had some time to record a profitable day-trade today for clients of The Sharpe Report, shorting the September U.S. Dollar Index Futures.
Regardless, today’s action? It’s just a small bounce as far as I’m concerned. The short-term trend is down. If folks caught this mean reversion higher? Congratulations. But I haven’t taken my eye off of the short side in equities. First area of resistance I will be observing in equities is 2090 on the September e-mini …