Trippy Tuesday Wrap Up

Very tricky tape again today – here it is in all its ignominy:

The spoos are running like a hare lately, best to be on our guard. Regarding that final comment – I have a chart for you subs:
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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I’m split here – that drop right before the bell kept us below the NLSL on the spoos. However we are sitting on quite a bit support here and thus I would not want to make big bets to the downside. Nevertheless, the door is open and if the shorts manage to close the ES below 1300 then we may see 1280 in a short order. If I was a betting man I’d give this only a 30% chance at this point. We need to see a bit more evidence and admittedly this is a tricky setup.

The long side may actually have the higher odds as soon as we close above that NLSL again. I know that sounds a bit strange but unless proven otherwise I give the longs the benefit of the doubt and will dismiss any bearish setups unless they are crystal clear and offer clear odds.

Cheers,

Mole
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