At the moment of writing the regular Alert, the S&P 500 futures were changing hands at below 2540. The watched-out-for spike indeed materialized, and brought stocks almost to 2560. Before we could get this intraday Alert to you though, the index plunged below 2530. While it may seem that entering short at a lower price leaves us in a worse position, please consider first of all the speed with which the first upswing to 2560 fizzled out - and so did the second one to 2535.

The momentum is on the bears' side, making it justified to enter on the short side - please see the trading position for full details.

Trading position (short-term; our opinion): short positions at market (that's 2520 currently) (100% position size) with stop-loss level at 2580 and the initial downside target at 2200.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care