Tacking on almost 1% after a 3% up day is a sign of strength which doesn't wear off immediately. I believe we will hold on to gains till Monday, at which point it will time to put on short positions.
There are quite a few layers of resistance from 1070 to 1090. I am sure the hedge funds are putting on risk ahead of earnings season. With INTC earnings on Tuesday after hours, the funds will likely add beta ahead of it.
As for today's trading, I see us grinding higher to make small gains.
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2 comments:
Have you covered?
Have some short left, but mostly covered.
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