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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (109286)	8/6/2018 11:19:43 PM
From: Peace	2 Recommendations Recommended By GoodGord GROUND ZERO™ Read Replies (1) \| Respond to of 218280

I was planning to update over the past weekend but got busy. Still not able to spend much time on the markets. I did cover the shorts last week and went flat. It had reached my pain point and it was pretty clear that the market was not willing to go down yet as every dip was repeatedly bought. This trade cost me a bundle. I am going to stay flat until I am able to spend more time with the market. However, I suspect that the SPX is going to attempt a new high. On one hand I think that we are still in a trading range just that the range has shifted up by about 100 points which may allow marginal new highs, and on the other hand we have consolidated for 6 months and with 2 more quarters of earnings growth in the pocket the SPX is less expensive which may allow for a breakout. For now I still suspect a contained move for another quarter and then a post election rally but I'll let the market spell it out for me.