I did nothing today as the market finally got the much needed pullback. Now the question becomes how long will this pullback last? or is this the end of the move?
In my opinion, the move is far from being over. A simple retest to the breakout point will put us back down to 1422, 9 points away. Even a pullback down to the 50 day MA would be viewed as constructive by the bulls.
A few days of consolidation here, should setup a bunch of charts, and give us a great trading environment through the month of September. Still looking for more upside.
I’ll be back tonight with some more trading ideas.