POSITIONS: Long Healthcare (XLV), Short Industrials (XLI) and Basic Materials (XLB)
The game is moving fast out there, and I like it.
Across risk management durations, here are the lines that matter to me most:
- Intermediate-term TREND resistance = 1369
- Immediate-term TRADE resistance = 1330
- Immediate-term TRADE support = 1288
The good news is that we bounced right from where we should have. The bad news is that we can go right back there, fast. Below 1288 support is my long-term TAIL line of 1282, so that’s bullish enough for me to buy back what I sell today, down there again too.
Keep managing your gross and net exposure to this bullish TREND in Volatility proactively.
Keith R. McCullough
Chief Executive Officer