All We Have Thus Far is a Bounce

Posted on Jul 28 2015 - 1:14pm by Sharpe Trade

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.   

Finally.

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 …

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