After the support line held. It was off to the races making a new high Thursday. Then Friday blasting even higher. What I believe is happening is many hedge fund guys became real cautious when the politicians in Washington had their showdown. As a result they now need to get in as fast as possible. So here we are with new highs. This week I am looking for this to pull back. I have a handful of calls I will be getting into as the market pulls back into the 1710-1725 area. Let’s see how it goes. Happy trading.
When I get a chance I will have to post a chart. if you look at the little red box on a current chart we tagged it perfectly. Now the pull back is on. Tomorrows employment numbers can change this. Technically I want to see this pull back to the 1726 area. Let’s see how it goes….