I am on travel this week and don't always have time to post, so it can be hit and miss while on the road.
SPX.jpg
So far this week, the S&P 500 has pulled back somewhat modestly and it may be forming a bull flag, so I'd not get too bearish right now. There could be another shot even higher before a more meaningful pullback.
DWCPF.jpg
As expected, small caps are creating bigger pullbacks for the S fund, but it too may be forming a bull flag.
The options are bearish for Wednesday, but not overly so. Breadth and liquidity are weakening, but within bullish parameters. My intermediate term system remains bullish as well.
For now, the market looks like it could very well be setting up for a surprise move higher to trap the early bears. I am not excited about the downside prospects at all.
Bookmarks