Near Term Trend: Bearish / Neutral
As of 4/6/18 close: 2,605
UPDATE: Last week, I suggested shorting bounces up to 2,647.25 and adding to them up to 2,677 with stops above 2,679 and with a target of 2,514.
Stocks finished a volatile week on a down note last week. Were likely to see more of this schizophrenic trading action this week which can be good for ST traders. Longer-term players should be patient in waiting for a buy entry down at 2,514.
Im willing to short bounces back up to 2,620 with stops on a daily close above 2,625 and with a target for covering (ST) of 2,568.25. From there, expect another shortable bounce ahead of the rest of the move down to 2,514.