Well, unfortunately I just ran out of time and gotta go. Closed out my shorts for a miserably small profit...was hoping for a lot more. Unfortunately, 1507 is a 50% retracement of todays run-up from 1497, and I'm concerned that we very well may go up from here into the close. So I guess I'm done for the day. Perhaps Monday will offer the chance to get short from the low 30s. Have a great weekend, everyone.
overall economy is doing well with the world. As long as global growth continues, it buffers any US slowdown. window of risk is limited, since short exposure needs to be removed.
... for the bulls' case.... dow and russell have positive divergence ... point.... on daily chart....
great stuff as always, Apex. You're one of the 3 or 4 posters I bother reading on this site. Keep up the good work.
I would like to see it go higher, but looking at macro markets, I see worriesome pattern, the pattern is indicating a significant crash event is being planned. Bonds sustained above stop run levels, Oil is only 4 dollars away. To capitalize on exposure, a severe break has to be engineered. when this happens lot of pensions and retirement funds will be at risk, forcing them to sell at yearly lows. Back in 100% cash now.