We need to jump above 2678 here (2677 now). Once we do that, we'll have a shot at legs. I fully expect to get above there shortly. Also, daily chart suggests 2800
Any strong dip down to 2620- 2640 window, to flush out weak Bullys before the Polar Express leaves for North Pole, would be the conservative entry... Target shoot.. Set it & forget it! Catalysts: Daily Hammer Bottom Half of 220 Handle range St. Nick Rally Fed toes the line w/ no surprises Bearish potential on Weekly chart but Bears need to Build out up North first to complete.
Longer term than 5 and 15 market is still a long. We'll need to have the 1,5, 15 resolve to move higher now.
1,5 and 15 recovering fairly quickly. Reader, this is a hot long market (never risking more than 2 percent of Total Liquid Net Worth of course).
When clear sell signals don't pan out, it's time to hang up the shorts. ----Walking away from computer for an hour or two. I'll check my positions later.
So the market will not trade below a level almost 40 points away from your call.....gutsy... I predict market will not trade below 2600 today!
largest force is pull to 2800. mkt may have done it's job consol yest/overnight.?...and may not need another large type pullback..(i.e.below morn lows) ?? The facts are a series of higher high/lows on 2, 5 min chart since yesterday close.