The Bears keep knocking at the lows of the day but the bulls won’t let them come through. Still, a fairly bearish day on the stock market, and it will be interesting to see how that translates into tomorrow. Is the selling done, or just a quick brexit-break from the ho-hum way of buying everything in sight.
If the bears can put the market into new lows at the end of the day and close the day there, then there is a good case for some carry-over into tomorrow.
For now, I’d be careful about buying stocks just because it was just a week ago, we were selling off over 100 points on the S&P 500, and it isn’t entirely impossible that the sell-off is resuming again following a dead cat bounce last week.
Either way, be prepared, and be ready to buy if the market wants to bounce, or add to existing short positions if the market wants to go lower.
Here’s the list of long setups to watch:
