USD Bounce Continues, Pushing Stocks Lower
Warren Bevan | Jun 13, 2016 01:30AM ET
“Time is your friend; impulse is your enemy.” Jack Bogle
We broke Friday and now I’m looking to get into some short positions.
The chop continues so that remains how we have to play this market using short-term swing trading strategies.
The US dollar continued to bounce which helped push stocks lower Friday .
iShares 20+ Year Treasury Bond (NYSE:TLT) also continues to be strong and it usually moves in opposite directions to stocks but it may be topping after printing a doji bar Friday, which will be confirmed with a lower close Monday.
Lots of confusion in this market where only swings trades continue to work.
I’ll look to see how 207.50 then 205 support areas hold in the week ahead.
We should be able to grab some nice gains on the short side but you’ve got to be pretty quick.
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