Swami's Market Report 09.15

• S&P 500: Bearish

• The momentum is clearly to the downside. However, I'd be wary of opening any new short positions. The market has dropped 500 pts in one day, the VIX finished at its high at near 32 and we've got the Fed meeting & Goldman's earning tomorrow. Clearly there will be a better time to short this market. Let things settle and look for a better entry point to short this market hopefully in just a couple of days.