SPX getting a bounce today, but by no means is it out of the woods. 

I got out of my trade in SDS yesterday at 20.68 and a 2.3% gain (entry was 20.21). So far today, myself and members of the SharePlanner Splash Zone have jumped into UPRO at the opening bell this morning and sitting on some gains already. I don’t expect this to be a trade that lasts beyond tomorrow but I do think the bounce could run price up to 2110. Some believe SPX may make another attempt at all-time highs but I don’t see that happening quite honestly. 

So expect at some point in the very near future for SPX to run out of steam on this bounce and to start reversing yet again. Once that happens, be ready to pounce on 2 or 3 of the names from the list below that are setting up. 

Here’s the bearish list of trade setups:

bearish watchlist 6-16-15 

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