Market Decline Continues

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ITZ has a 3/4 position via Proshares Ultra Proshort S&P500 (SPXU) having entered at $44.50 twice & $45 once. Looking to possibly add remaining 1/4 position on the BLS Jobs Report tomorrow.
Yesterday the FOMC left rates unchanged and basically said nothing. LINK
Today Draghi gave a plan on what the ECB may do...markets expectation was for action.

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S&P 500 Observations

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Interesting observations on where the S&P500 is heading. ITZ view is that near term we could possibly see a 5% to 8% pullback, which would be bullish longer term. But longer term remains bullish on the markets.

ITZ posted a suggestion today to hedge a an equity portfolio via Proshares Ultra Short Pro S&P500 (SPXU) defining support & resistance levels.


CNBC's Jeff Cox explains whether the S&P can stay at the 1350 mark.

Jim Cramer of CNBC's Mad Money looks at the long term charts of the S&P 500.

Past ITZ Posts Click Here

Correction For The S&P 500?

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ITZ has been looking for a correction on the S&P500, looks as if it maybe beginning. Previous post on S&P direction LINK ITZ suggests the Proshares Ultra ProShort S&P 500 ETF (SPXU)

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Abigail Doolittle, Peak Theories Research, explains whether the "golden cross" on the S&P 500 is a bullish sign for the market.

Past ITZ Posts