All the sentiment indicators are lined up for a fall in this market. Just waiting for the trigger. I am looking at Spain 10 yr yields and they are rising again despite a rising stock market. That probably explains why the euro isn't rallying with the stock market here. Also gold is failing to keep up with the stock market. These are just little things that eventually add up and get noticed by the public. Right now, every one has rose-colored glasses so they are being ignored. A move to 1200 would probably cause max pain for options holders, as call activity has overwhelmed put activity. We have 6 days till options expiration, I am looking for a down move to ES 1195 during that time window.
Expecting selling at the open today. If we don't selloff today, we will just be building more potential energy for a fall next week.
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