Direxion Daily S&P 500 Bear 3X Shares (SPXS)

[wadirum1]

Wow. This is getting back down into the original gap before the breakaway.

SPX and INDU charts are both showing textbook beautiful pinchers (very bullish). And everyone is starting to notice that we have stopped the exponential virus increase and maybe even left the era of linear increase -- meaning that peaks are in sight or already here.

And yet we also just saw the death cross on the SPX (50 crossing the 200)(very bearish).

And Fed does not have magic powers to do this stuff forever.

So, there is NO WAY the markets are going to bounce all the way to the early Feb levels. Perhaps the mid-Fibonacci will be the resistance point?

The markets have gone freaking haywire. I agree with your basic premise. Sorry you are getting hit so hard. Do I jump back into SPXS and dump all my long positions again? I think so. But I'm going to have to do some calm thinking about it -- and how to get to that calm position when everything seems so crazy?!?