If CZ settles below 4.98 I’d initiate new shorts to add to current winners. A settlement at 4.98 or lower should open the door to a test of the next low at $4.60.
I believe that the June Dow has good resistance here at the 15,000 level. Sell it with a reasonable buy stop, but keep it tight. Up side maybe is up to 15,200… This 15,000 level is a good fulcrum. Nice emotional level. Gives the media something to focus on and therefore draws attention.
The only problem I have with trading stock indexes in July is that we are heading into August. August most of Europe goes on vacation. A lot of other people on the coasts here in the US also take a chunk off.
The trade is choppy and thin.
Those are trades I am watching now. I’d be an aggressive seller at 15,200 against a little trend line up there on the charts.
That’s about it for now.
CER