i just shorted some FAS as a proxy for an XLF short but i’m going to keep the stops relatively tight on this one, as XLF may want to work a little higher up into the wedge before reversing. however, there is some resistance plus i have JPM pushing up to resistance on their post-earning jubilee. i am not adding this on as an official (active) trade at this time, nor have i finalized any targets. this is just an initial scale-in lot that i’ve taken that i plan to add to if not stopped out.
also note that i will be leaving early today for an island get-away weekend so the posts will be light this today and i will probably cut out sometime after lunch. remember, today is friday (the 13th, to boot) so no need to get aggressive with any positions just yet, especially in front of the weekend, as the near-term technical picture still remains murky and the markets continue to grind about in an unpredictable manner.