The Russell 2000 was the only index to finish with a lower close and if shorts are going to win out then this is likely to be the index to deliver.
Large Cap indices had offered a more ideal technical shorting opportunity at resistance but both the S&P and Dow Index managed to recover from the weak opening.
Tech averages still have the best long-side opportunity with the doji above support; shorts may have taken the gap down as an entry opportunity but as there was no follow-through stops will need to be kept tight.
For tomorrow, with a weak short trade in play it will be a question of managing risk; be prepared to switch long if last Thursday's highs are breached. Whipsaw is the biggest enemy here.
You've now read my opinion, next read Douglas' blog.
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