Market: My SPY target of 127.58 was off by 9 cents so far today before we got a reaction off the high. I see the O'Man had a target of 1697 before he expected a reaction. He was on the money. Interesting.
Market: Yesterday, I had a high of 127.58 on the SPYs and we got within 9 cents of it at 127.49.
For today, I am turning from short term bullish to short term neutral. Upside should be limited to less than 1/2% and a retest of the highs could do it as well. There is a good chance of a short term reversal in the market. I note Jim Q has a change of direction /high scheduled for today and as I look at market technicals, they seem to support such a possibility. Probabilities favor no more than a loss of 1% on the SPX. I realize that is not much to go on but so be it.
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