Yesterday and today's trade feels like one of those moves off the bottom in 2009. That bothers me a bit but I don't see us ripping continuously higher like last time. But it does tell me that we're not going to go down to 1040 or even 1060 anytime soon. I expect at least the next few days to be holding above 1085 and maybe one more push higher to the 1113-1118 zone.
The Greece jitters are mostly gone, but there a few after effects, mainly in the weak euro. The market has formed a short term uptrend, and we need to see more bullishness before that uptrend breaks.
I have cut back on my shorts and I'm probably going to cover the rest on any intraday weakness today. I will look to re-enter higher. I am not interested in longs at these levels.
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1 comment:
We're going negative. Don't get whipped by the market.
The market is my bitch.
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