continuing to add to short positions as the SPY re-tests the recently broken uptrend line. downside targets for the broad markets remain as shown on the previous 4 hour SPY & QQQ charts and i continue to give my shorts a little extra leeway on their stops for now. the next objective short entry will be on a break below the july 12th lows, as until that level is taken out, the market remains in an uptrend (higher highs and higher lows). although i favor prices breaking those prior lows this week, i won’t move to a fully short position until/unless that happens. however, i am net short by a significant margin going into the close today.
