Wake Up, Here’s Your Rip

Global futures are on fire this morning. As a matter of fact the Nikkei managed almost a 6% advance overnight.

Crude is catching a bounce and is up more than 5%.  That helps.

As is the case when markets hit extreme oversold levels, the shorts will be taken out in body bags. The bulls now have a shot at the wheel. Its anyone guess for how long, but a move to SPX 1950 is certainly doable here, before we go down and retest recent lows.

Long TQQQ, UPRO, SVXY, LABU and short SCO

Enjoy the action.

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