The market's running out of breath/breadth up here. I was hoping there was enough punch left in the market to take us to 4090 today, but surely not. Will stop out of that trade for+ 14 or 4088 or by the electronic close. EDIT: That's a nice trend. Closed it at 85 for + 18 points on two contracts.
VZ, There is no evidence of a blow off top here.... The definition of a BOT is a massive rip north with a Hi print followed by a quick a quick reversal south bound leaving a long term swing hi top in place for quite some time.... The move up is not a melt up but usually a news driven event.
I'm buying this dip (4082). And if I'm wrong - I'm buying once again. I have my eyes set on 4100. Hard to imagine we'll go much further than that without pulling back some in the coming weeks, but who knows. EDIT: Stopped out at 78. Low ticked me, maybe. Ready to re-enter, but may see low 70s. Waiting a bit here.
Apparently, I was low ticked. Considered using a wider stop, but whenever I do that they seem to get hit. LOL. Got back in and added a contract on rising prices. Most of my statistical biases are exploited for this week and I think we may be near a short term top, so I'm not extremely confident, but enough that I'll hold this B/E for 4095. Buy the dip / risk on / window dressing may take us there. But as pointed out yesterday, the odds of a positive close on the last trading day of March is 50/50.