Hello Troops! Hope you had a great day. Mine started at 4 a.m. and been going all day. I'm pooped and didn't even look at the market until an hour or so ago.
What am I going to do tomorrow? Answer.... watch that 2250 level.
Based on the past 3 days, I tend to think we'll have a pullback tomorrow. That 2250 level may attract some attention if for no other reason than to kiss it for the market to test it and see if it holds.
I'd like to see more conviction to take out 2250 before going long. Lot depends on if there is good volume when 2250 is taken out, then we could have some more steam left. If the vol isn't there, I think down we go. Resistance held. Careful, though, don't be fooled. It's options expiration and who knows what influence that can have. Could be interesting the last 30 mins since some issues are out of line with max pain points and positions start to unhook.
In any event, I'm having a difficult time getting a good "feel" for the market this week, so I'm scratching my head. Perhaps it's because I've been busy and just not been able to focus as much as usual. When I get that way, my "RR Gut Indicator" is flashing its red light saying "Patience, patience, patience."
Guess that is experience talking in the back of my head, reminding me of all the times the market handed me my head over the years......
Make it come to you. Have patience, but be aggressive. Set your plan, have discipline and execute.
RR |
