Daily action can actually move higher if Oil kicks in; otherwise it’s fits and starts based on nominal stories or earnings (most of which are now behind).
Generally this remains a stressed market; which is again how they were able (not surprised) to rally stocks and corner the shorts. I have said so many times how one cannot fade into weakness or risk getting burned. I am just hoping the Senate passes something and likes it enough that we get a spike up that’s a relatively low risk spot to actually formally fade the Index.
For now the beat goes on; and I’m glad the S&P moved about the declining tops pattern, which is a suspicion I had last night that indeed got this.
Enjoy the evening and realize that most (not me) are taking next week off; so I’m unsure how much volatility we’ll get barring exogenous events.
