This month, while the market went down, there was some good news. There were higher highs and higher lows than last month. Also, volume dropped back into normal levels after the very high down volume of May & June. The monthly stochastics seem to point that we have a ways further to fall however, as the fast is around 40. From a longer-term perspective, it looks like we are about 3/4 of the way through a huge head-and-shoulders pattern, with $SPX 1050 as the neckline. This isn't a perfect pattern, as the right shoulder is not very defined. This would dictate that there will probably be one more bounce up to around $SPX 1113 on low volume. Then the market would plunge down through the 1050 support on high volume. This coincides with the Hindenburg Omens of late and the mystical horror of September-October. [explained <a href="en.wikipedia.org/wiki/Head_and_shoulders...;>here</a>][<a href="en.wikipedia.org/wiki/Hindenburg_Omen";>]
I'm going to try to ride this bounce up with UPRO and then short the market on the way down this fall.
From a fundamental perspective, I have a few stocks that I am engaged with right now. I still own APFC, but am becoming wary of it looking at the longer upper shadows of the candles on the weekly chart. I'm holding on to it with a stop at 4.25. I got stopped out of INFY this week for a small loss. I'm closely watching ATW for an entry point based on the monthly stochastic. Watching and waiting after I bought and quickly got stopped out last week. I'm also beginning to think about BYDDF again 2 separate bottoming formations showed up on the weekly and daily charts, respectively. Overall right now, I'm just waiting for a sell point for UPRO, and I'm holding APFC longer-term.
Disclosure: Long APFC, UPRO