The market hasn't provided a larger pull back yesterday. Since in most of the cases it does, this is an indication of strength. The put/call ratio is behaving as usual at the beginning of longer up moves - it is fell yesterday (on my inverted chart) while the market rose:
This behavior portends at least a few more days of strength before a more meaningful correction. Today we have the employment report at 8:30. I do not expect it to be great. It could cause the market to gap down or sell off early. If it does, a 10 point correction is a buy.
1 comment:
It did not. Great trade, AD!
We may see a big rally after some sort of pull back.
Tony
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