Hi John,
Not sure we have the kind of set-up for a really good edge band short. Do you have a chart you can post?
Think there may be some more downside into February, but have started to place some leveraged longs at deep support (bull credit spreads at 108/107 SPY). Will get more aggressive if it looks like support will hold.
Terry Laundry, who's been nailing it since March, is looking for support at the 111-110 area. He sees this as a corrective move, and hypothesizes a another bull stealth move into May. He's waiting for a cash build up on the volume oscillator for confirmation (with bull divergences), and so am I.
No divergence yet.
Best regards,
~D
