Even though we have been grinding sideways, I am still long.

I believe we may see a retreat to 9000, perhaps a 30% draw down in the event of a another collapse in confidence in the investment market in general. However, if that does not happen, I am very comfortable saying that the Fed and institutional investors have entered the room.

Also, if you have not yet checked out https://www.citadel21.com/ go do so

Trade active: Mike Saylor was in fact making huge purchases during this time, although doing so quietly. Interesting developments.