From tomorrow the weekly adds it's formidable might to the onslaught. If bulls are able to withstand it and keep the flag flying, expect the next bull party to be held on the moon. As soon as you see the U-turn start to form.....run.
Didn't the NQ market do nothing during the Sunday ON session, but shoot up 145ish points during the day session yesterday? Sorry, wasn't paying too close attention, because I was on vacation. If I had, I would not have closed out my ON trades on Friday afternoon in profit, which I entered TWO MONTHS AGO!!!!!!! TWO MONTHS!!!! So have a steaming hearty cup of STFU on your ON BS. Mmmm hmmm.
Mixed market, hot money still flows to tech. Even though Congress is about to break them up. Just goes to show, ignoring the news still pays off.
For me, the risk reward is now to the downside. I'm a comfortably bearish. Maybe I'm early, but I can always try again later.
It's certainly easier waiting for a dip to go long. I've learned to just go with the flow. Things are defiantly frothy and I understand your temptation to short.
If inflation was really a problem, or going to be a problem, the 10 year wouldn't be at a buck and a half. It seems like the Fed from time to time has to conjure up some type of boogieman, be it tapering or a scary dot plot, to keep the market from bubbling up.