Nice drop on Friday. The market started to fall too early for me. It did not even wait for the 10 a.m. data.
However, it seems bearishness is already too high:
This is why I would not be surprised by a move back to the recent highs this week.
For my ST Trading, if conditions seem right, I will try to buy a decent drop today before the lunch, around SPX 1270.
Longer term, I am waiting for an opportunity to go short for an IT correction, but I will be selective. This is still a bull market.
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