Achtung Achtung!

I was about to give up on something intelligent to say when I noticed that one of my chart had triggered a green alert. Achtung, Achtung – this requires your immediate attention before the close of today’s session.

No, that’s not Adolf, my new cat – Squeaky’s grave is still a bit too fresh.
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The spoos are in the process of breaching the current NLBL – that was quite a move. Mr. VIX is down over 8% – and if you were long puts yesterday then you’re really feeling it today – ouch! (not me!)

I might want to add that a strong rejection here tomorrow would not be a good thing – we need to close above 1323.25 in the next few days. A take out of yesterday’s lows would be lethal for the longs, that’s your line in the sand if you’re long.

This is exactly what I have been waiting for – we really needed a spike in bullish breadth here. So, although the Zero readings continue to be summer like I would say that this breathes new hope in the bullish case. Let’s see if we get some follow through tomorrow.

Cheers,

Mole