Naz, I read Schaeffer's commentary this morning on the Q puts and how 33 should be good support given the extremely high open interest of Q puts,.....I certainly admire your plan to let price tell you when a turn has happened, as opposed to myself who too often tries to catch the top,.....
everything is certainly lining up for a pullback, so maybe it won't happen, but then again, everyone also thinks a pullback will be shallow, so if we do get one, we may get a good one,.....
cycle guys going long looking to catch the top of the 10 week due later this week,.....ndx 60 minute had a triple neg D on the macd which is why I dipped my foot in the pool, but how many times have we seen those negative divergences prove worthless on this rally since March,.....but with the 60 minute, and dailies showing neg D, along with btk (against resistance) and sox (looking real weak), I had to at least start a position,.....bkx breaking out last week would support the theory that the 10 week top is due straight ahead,.....I'll be quick to take my money if we get a nice pullback next week or the following week, then look for some kind of corrective up to reshort,.....if history repeats itself, I guess we'll just keep grinding up,.....
hope my trades do better than my Travis Henry did last night, lol,.....eom
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