Category Archives: Longs

From Resistance to Support

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After the explosive eight-day surge in the markets (following the bottom last Wednesday), a whole cache of ultrashort ETF charts looks very interesting on the long side. Below are just a couple of examples, and take note how cleanly resistance has magically changed into support. Next week, particularly Wednesday’s FOMC announcement, will clarify whether these “long” positions (although actually short the market) are as profitable as they might appear.

1024-TWM (more…)