If Freep is right (today up), then I see tomorrow as flat/down..(as Freep mentioned, up, up, flat). I don't think this is a good spot to short (this week), unless for a scalp (we could get to 1925, but I think that holds)
I know preferred scenarios have us turning very shortly, but I am struggling with that versus the need (I see) for us to spend a few weeks at/near these levels to get bulls much more comfortable (VIX lower) and burn off some of this "breaking important trendlines" hysteria...Turning next week, after yesterday's big up move makes me uncomfortable. Also, "happy, happy" momentum would seem to easier to maintain over next 3 weeks, vs. breaking it. Next year, however, new rules, new ballgame.
Can we work a count that has us turning in January? g,ng |
