Sometimes it only looks comfortable

/in , /by

June 9,2014    I see a lot of trading set ups in the markets lately, various sectors too, but am I comfortable taking them? MAYBE as trades, but please be careful and don’t get TOO comfortable.  Like the Hammock above, These markets may look comfortable place to jump up on & rest (as they rise day after day) , but they are getting extended– and even nice set ups  could fall through if a sell off starts.   I am expecting a sell off  (Not sure how much) sooner than later.

 

   I TWEETED these charts last week , thinking that we would get a pullback, but they paused or dipped for 2 days and UP UP UP  they went .

 

$TRAN

QQQ

Now they are again overextended…

 

 

Lets look at a few things  (Charts)

 

$SOX

SPY topping candle?

 

SPY

 

SO one could by  SDS, TZA , SQQQ for a quick bounce or more as the markets pullback.    CAUTION :  It is and has been risky shorting this market only to watch it go sideways and continue upward, so what about  Just looking for “SET UPS”  on the pullback – If this is just to be a miner dip? 

 

I want to send this out before the close , so I will add to this idea ( in this report) tonight …Please check back later