Market is very near support...in nearly every chart...so intraday bounce or 1 more day of selling before a bounce, but i think it will happen very soon..just wait 1 more day...
I guess its not a bad time to go short and still a scary times for bulls...but if i was a bear, i would be hesitant to go short as the trend now is up...any short trades are bound to be short imo
Pushing right up at resistance right now without the strengh in oscillators and small caps thats normally evident in breakouts...if i was trade all my feelings i would exit any longs here and take full profit...but because i don't trade like that, i will just tighten stops here awaiting a possible reversal down
Market is telling me that the bulls have control and many do not believe the rally...this means that i think we will churn higher slowly but surely until overbought and we have believers...but keep an eye out on SPX resistance, that might cause a pullback that might stop u out
SPX and all other indexes have hit support and seem to be heading straight up to atleast the prior high...good time here to go long for a several day pop....
Got a good hint that we might bounce here..and in the past, i would get long here...but right now i am going back to basics and waiting...so red, red...still...
Is market in a strong trend? no...is it making small moves that can last days but are highly unpredictable? yes...i want to go long here...but i think its safer to just wait...