Stocks Open Down; Look to go Short after Gap Fade

After the stock market's recent run-up, the market opened lower today by about -0.7%. Our Long-Term and Intermediate-Term equity models are both neutral to short.

We'll use the typical "gap fade" (market often moves to close an opening gap) to PROBABLY enter short positions. That is, unless the "gap fade" is so strong that the market is looking stronger. With the longer-term models neutral to slightly biased to the short side, the Shorter-Term indicators will dicate our stock "trading" position.