Trend Day Update

With RUT at 917.82 as I type and without any clear reversal patterns in place, the risk is to the upside. Is this buy-the-rumor-sell-the news?

The money flow of large players continues.

Next target on SPX: 1525 or so– the expected completion of the inverse head and shoulders that dates to mid-November, 2012.

Would one go short then? Sell a call and try to cover it later in the day.

Image

12:15PM

RUT Intraday One Minute Chart with Volatility Reading

Capture (1)

RUT draws a line in the sand at 917. After this image was taken, the RUT lifted from precisely this line.

Also note: when Apple is up, the indexes are down and vice-versa.  Tomorrow, we might expect Apple to rally and the indexes to falter.  The strong money flow is finally leveling off; but still no sell off in sight.

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