market gapped up nicely this morning. Is it an exhaustion gap? Is it the first of many, many more gaps? who know?
Regardless, if I had positions from lower levels, I would raise my levels to 1938 on NDX cash and 1147 S&P cash. I might also either take a bit off here or sell covered calls/buy puts on a portion.
This is not call to alarm, just raising levels, that's all.
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago