Nov 17 – Outlook

The S&P 500 couldn’t hold its pennant support. The bulls lost steam. Unless there were good news from Europe early in the morning, I’m expecting more down ahead. Lower close is very likely. Either Oct 20 low (1,197) or Oct 17 low (1,192) will be revisited. Any rally will be sold. Size of the rally is for illustration only. I will use this opportunity to unload long and increase short. Below are my guidelines for tomorrow.

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