SPX opened lower made a LH and LL and closed lower. That is a negative for tomorrow. SPX made its HOD little after 7 and LOD in 45 minutes or so. Rest of the it was bouncing between the 25% and 50% mark never really catching any steam. It closed near the 50% point. Range was good 12 ponts. RUT acted similarly except its closing in the negative was the first after 7 plus days in a row. That is also negative.
1 down 3 up; 1 down 3up; 1 down and 7 up days as its path giving 3 down days and 13 up days. That is very good rally. The pull back to maturity will be shallow and probably not go lower than 86. Since this is a shake down it has to be fast and quick giving people the impression of a total failures so more shorts pile on and faint-hearted jump out.
I plan to jump with both feet in.
I am bullish but expect this pull back to be violent. Thanks for reading my blog