The market is already at my expected target but the EU summit is tomorrow. Also, with signs of agreement over the debt ceiling coming from the US, I do not think traders are going to risk it on the short side today. We might even get a nice surprise from the housing data at 10 am. Thus, I will keep my longs unless there is significant weakness today. The next target to the upside is SPX 1340.
3 comments:
Adi, thanks for the update and keep the great work!
Tony
Adi, I think maybe we will have sell off AFTER 8/2...that's will be surprise and later rally into labor day?
Just my guess.
Tony
Tony, anything is possible. This rally has started pretty good, so it might be longer than I expected. We will see what happens after tomorrow's event.
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