I don't think I belong to the camp that's anticipating a big end of year rally, but I think this intermediate leg have enough juice to take us to at least 4050/60 (as soon as today) before possibly reversing. But I've been wrong a lot lately, so pay no heed to my ramblings.
Agree 100%. If it goes long I can see quite a reversal and a close well below the peak again. kick starting a leg down.
I feel good about the long side as long as we hold up fairly well above 4K. Let's see if the pace picks up on the RTH Open shortly.
I have my eyes set on 4050 if this turns into a trend day higher. There's an open gap at 4067. It could happen.
What the hell was that, though? Some kind of unusual action if there wasn't news. I trailed my sell stop and managed to stay in the trade, but will trail myself out of my current long at 4018. Profit target at 42. Off to do something else for a while. (I know I didn't post the trade, so feel free to ignore).