Indices move UP lacks conviction ?

This week saw a muted snapback in indices.

S&P 500 gained 1.47% in three days of gain.

This is the-most anaemic gain i have seen in any snap back ?

CMF in all indices are almost flat to down ?

VIX was down only .68% @ close

VIX closed near upper end of trading range for today ?

All of the above is NOT giving me any confidence in the TAPE.

BUT..one can forget the anaemic TAPE & look for ideas to make money....

There can be two strategy to make quick trades, First is to daytrade for any gain.Second is to short on a daytrade basis.

Many stocks are below 50 DMA from APPL,BIDU,SOHU,SINA,
LULU,APKT,TZOO..to name few

In a WEAK market 50 DMA becomes resistance......that is where "short strategy " can be implemented.....

I personally have not employed shorting as a strategy, but i MAY be inclined to do that under current TAPE.......

So..... this market remains WEAK & difficult to make money.....

Depending on your trading style, implement defensive strategy & SMALL gain as objective.

While US markets are closed on Monday, Europe,Asia & Canada is open.

Enjoy your long weekend with friends & family.

BLOG does NOT give buy or sell.

Saleem