ajtj99's Market Pulse

[Justa Werkenstiff]

Market: For Friday, I said: ". The hourly is overbought and the weekly candle suggests to me that the move for the week is over and that today will be essentially flat. The hourly says we go down but seasonals say up so they should work to cancel each other out. Again, the meandering nature of this rally makes it difficult for me to envision but that is my take. Next week I think we will make a run at the highs on the Spx."

We were as flat as can be on Friday and this morning we made a run at the highs on the Spx. This morning, I am moving from bullish to neutral on the market. Averages were overbought on the daily at the open. Caution is in order for longs despite seasonaly strong period for stocks.