Short Set-ups for the Unrelenting Bears
09/02/2015 9:05 am EST
Given the S&P is down 50+ points on Tuesday, Ryan Mallory, of SharePlanner.com, reiterates his stance that traders should be cautious not to blindly trust the bounce; Ryan also shares a short list of set-ups he is currently following and looking to make plays on as the week progresses.
The bears are back in the driver's seat after last week's dead cat bounce. This is none surprising as I have mentioned numerous times in my recent trading plans to not trust the strength of the bounce. I also noted that at the 50% Fibonacci retracement level, we could end up seeing some real trouble start appearing again...and wouldn't you know, the S&P is now down 50+ points Tuesday.
Below is my short list of set-ups that I am currently following and looking to make plays on as the week progresses.
Here's the Bearish Watch-list:
By Ryan Mallory, Founder, SharePlanner.com