As I mentioned this morning, the brown trendline broke. It was a good place to go long for a day trade. When the market gaps up more then 1.5%, it will usually result in a trend day.
I would be very careful tomorrow being short, if the market moves up more. Here is why. Look at the Bull Flag that has formed. If this was be a valid flag and break out it would move a possible 25 point move higher.
I went long SRS after seeing IYR also failed to break out of it's downtrend line.
