We have plenty of reasons for a multi day rally this week as it is deeply oversold and stochastics look bullish on the daily chart after the gap up today. However, resistance at 865, 880 and 900 is going to be very tough to break. Anything can happen of course but keep an eye on those levels. A downside break of 825-830 will be bearish in my opinion. While we are due for a continued rally during this holiday shortened week I would be cautious with all that tough resistance overhead.
I scaled into some SDS calls late today (which is a bearish position on the market) and will hold these until the market shows me I'm wrong. In the meantime how about that interview on CNBC with Prince Alwaleed? Lol, might have been the best interviewee ever on CNBC with the million dollar glasses on and cane while he sat in his gold plated throne. Lol, lookin on Youtube for it now.