Today we initiated some longs for a play on a bounce. We have been waiting for a buying opportunity and today may have been it. Watch for sell signals. One currently on radar is the Advance -Decline.
No cross of the EMAs. Once it does occur then the sell side would be the best bet. Until then the upside is still in play. Other signals currently are saying markets are closer to an intermediate bottom than the top as overbought conditions have been worked off. This is why some room will be given before abandoning this long side trade.
Added UPRO, TNA, AMZN, V today.