Flip A Coin Before Labor Day

Flip a coin here. The Nasdaq has moved back to trendline support, which is near that pivot low of 2360. It sure looks as if that Friday rally was a fakeout. The market moved a lot today. It won’t surprise me if the rest of the week is dead.

The SPX is in about the same situation as the Nasdaq. After falling back to trendline support, the index must hold the recent support level below 1261, or it’s picnic time for the bears.

I’m flat after selling QID and SDS today, and looking to buy both back.