sentimenttiming

Consolidation-1 More Push?

Short
SP:SPX   S&P 500 Index
The spx looks like it is consolidating up here, suggesting we could see another push higher. The pattern is bearish-we are in the time period for a short term top and technicals are diverging. We may see a try for 2900, but the risk from our Predicative Analytics Model is the long side. Be patient and let the market do what's it's going to do. The longer the bulls press up here, the sharper the drop when air is released from the move. Still like short side from 2885-2905 with stop at 2920--target remains 2765-2722.

Have a great weekend!

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