The bulls are at it. As I mentioned last night, this must be absolute hell for anyone being short and exposed.
I see no point maintaining a level below 1070, or even 1090 at this point. bulls should stay above 1100-1110, and after that 1090 must be held. From here on, for those with built-in profit, it should be a relatively easy matter to manage the position. If I am not comfortable with 1100 or so, then I can take some profit.
The push today is making new intraday momentum peaks, so all divergences are pooched
This is an OpEx week.
Nice job for those who went long in time, and managed to hang in to all or part of the position!
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