Imperial Grey Knight Terminators fighting the Chaos forces of Khorne at the tainted Basilica of St. Mariel
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I expect a doji inside day today. The locations of these inside days are important on every major index. For the SPX, I expect the range to be around the 900 level (50-day/200-day) continuously. For the DJIA, I expect it to be around 8377-8550, or between the 50-day and 200-day MA’s. The COMP’s range should be around the 1775+ level. The RUT’s range should sit above the 50-day MA at 494+.
Intraday, a rising wedge would be ideal and a break of the wedge would be an entry point for shorts. I am focusing on the materials and industrials to make up the majority of the campaign. If you are looking at dollar stocks to short, stop. Short positions should be higher priced.
Looking at each of the sectors (XLV, XLB, XLK, XLI, XLY, XLP, XLF, XLE, XLU), the materials, industrials, consumer discretionary, financials, and energy are leading the decline, therefore, using the SPX as the leading index.
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