Wednesday, June 13, 2018 11:58:25 AM
Good morning rimshot
Must be taking a day off from hiking?
My take here is we may be headed higher but there are a lot of mixed signals, for one, I've used the SOX as a leading indicator for awhile, GZ on SI got me to pay more attention to it and today it looks better but it was a contrarian indicator the three previous trading days.
I am standing aside from trading for the most part and just observing so no axe to grind here but I think the market will give back here in this 2800 spx region. Pretzel and others see an ending diagonal concluding and I think that is possible, I can see the bullish scenario where we are in a nest of 1 and 2's about to lift off as well.
So truthfully waiting for the market to tip it's hand a bit more.
Must be taking a day off from hiking?
My take here is we may be headed higher but there are a lot of mixed signals, for one, I've used the SOX as a leading indicator for awhile, GZ on SI got me to pay more attention to it and today it looks better but it was a contrarian indicator the three previous trading days.
I am standing aside from trading for the most part and just observing so no axe to grind here but I think the market will give back here in this 2800 spx region. Pretzel and others see an ending diagonal concluding and I think that is possible, I can see the bullish scenario where we are in a nest of 1 and 2's about to lift off as well.
So truthfully waiting for the market to tip it's hand a bit more.
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