I would be positively amazed if we don't touch 1000 on the S&P before we move lower. Resistance is about 1010, which coincidentally is also 38% retracement of bear market. I am holding out for 1010 or higher, myself. Obviously the market is in "full green ahead" mode, and tomorrows GDP report has a low hurdle at -1.5. I bet it comes in around -1.0 or even 0 and the market will be off to the races once again. Sure we're overbought, but that don't mean shit!
b 100 98.90 im am flat.. this is how i trade sometimes.. for intraday! hope you caught some of the action
sold 700 spy @ 99.45 avg bot 700 spy @ 99.02 avg $ 301 gross -9 fees = a quick 292 net in 30 minutes in real time.. how did i know.. the chart told me.. no indicators .. just watching the price action for 5 minutes before I made the trade.. i didnot watch the screen all day.. i was doing yard work.. well back to my yard work.. good luck to all of you.
I think the bulls are surprised by this pullback, bet most thought it was going higher into the close. Would like to see a 1%+ on the open tomorrow only to see it drop and close down over 1% on heavy volume.