The TradingEdge

[Oddlot]

SPY SDS falling into place!
The short term(?) top I discussed already had a Bradley signal, proximity to channel resistance, and various CCI sells; what it lacked was signals from stochrsi (which normally come before CCI) and the trendline violation. We got a turn down after challenging the channel, and stochrsi broke below 80 for a sell on the 10day cycle, with CCI on the edge, and price just above the TL. IMHO the mkt is on the edge of a small cliff. Downside is to 137-136 SPY.

Position is short basic materials, and looking to buy various undervalued, trending stocks on the selloff. On a longer view, this is midrange in a LT channel with potential above (choke!) 150.
Oddlot