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Afternoon market watch

    The market to me has been bearish for the last 2 weeks and certainly confusing. If you want to know if the bears are truly taking hold wait till the close today and watch the S&P. If it breaks its 1014 level and goes lower, we are probably going down, if not that will tell me the bulls are still buying and we are in for a wild ride this Sept. I personally think we are heading down. Please understand there are many hedges and mutual fund managers that did not participate in the market run up. That is what I believe has held this rally over the last 2 weeks.  If you want to keep your positions please protect them with options, inverse etfs ect. I believe your best play if we break the 1014 S&P resistence is take your intial investments out and leave your profits. Set your money on the side and wait for a reversal or purchase inverse etf's make a profit and when the market turns purchase your investments back at a lower cost.

Have a great Day
Steve