Approx 75% of all short positions have been stopped out for a loss of about 12%. Still holding QQQQ, XLF shorts and QID long. Will be buying FAZ, NQU9, ESU9 and SPY today and Monday.
Range trade (several market averages formed inside days -- lower high/higher low) following Wednesday solid rebound leaves the indices near the upper end of their two week ranges/multi-month recovery highs. While there are several economic reports that could lead to further choppy consolidation tomorrow, the confined range near the high thus far this month reflects continued limited selling interest and keeps the door open to further upside. Initial resistances above the range high from last Friday (1018) are at 1026/1028 and 1030. Short term supports are at 1009 and 1004.
Could go as low as 920. I have been trading ETFs and bonds the past few days -- intraday movement has been quite good, especially QQQQ, QID, and FAZ. Will get back to stock futures trading tomorrow -- but hard to resist those ETFs...