Now to some charts.
First to the SPX, it formed a Spinning Top yesterday which means some indecision in the market. Why would there be indecision? Hmm because no one wants to buy and over extend market and the bears don't want to short a market that ripping up on "GREAT EARNINGS" from banks. I think we run up to 878-880 soon. If we pullback to 820 I am buying.
MEGA- Check it out, everything just kind of stopped yesterday. Either it ended down or didn't move. So either the indicators are getting into their stance and will soon explode out of blocks (to 870-880) or they are exhausted and want to collapse. Only the price action will tell.
MEGA B
Kind of like MEGA, the UP and DOWN vol has kind of stalled. The strength is still to the upside though.
One thing I have learned during this "rally/new bull market" is if you are going to trade the opposite side you must have the patience to wait for your indicators and the price action to give you the absolute best signal to place yourself in front of the train.
Just like Jesse Livermore says:
One of the most helpful things that anybody can learn is to give up trying to catch the last eighth—or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent
