You need to ask yourselves, why did the market have this massive rally up to this point...? Apparently...there are some people who knows something about the market that you don't.
Let me repeat....any pullbacks are a "Bear Trap" until the Technicals say so.
Do you you know what a Golden Cross is? Go check it out yourself...some little homework for you.
For the next few weeks, I expect sideways action until the rally is ready to continue. When it does, I suspect that there will be a big gap up to scare the hell out of the shorts. Occasionally, the market will act weak to draw in the bears....this is only going to gather more strength on any effort to push the market up later on.
On the technical side, only a break below SPY - 81.39 will be considered ultra bearish. A break above 87.48 will likely bring us to 90.94. For tomorrow, I think there could be an attempt to try to fill that gap to 86.96. Once the gap is filled I will exit all long positions until the market reveals more of itself.
Watch WFC to lead the financials for a "little" upside, there will also be an EIA report at 10.30am. So it could be a choppy day to play the SPY...but if you stick to the technicals you should be ok.
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