Eoin's personal portfolio: stock market index shorts opened
Short-term overbought conditions are evidence on the majority of stock markets so I opened shorts in the S&P500 and the Nasdaq-100 this morning. I sold a June Nasdaq contract at 4507.1 and an S&P 500 September contract at 2080.68 including spread-bet dealing costs. I believe the odds of a sustained breakout are currently outweighed by potential for a consolidation of what has been a powerful 10 week rally.