The Bulls Just Blew It (Maybe)

I wanted to make sure everyone sees this before I hit the hay over here in Spain. In a nutshell – the bulls just blew a major opportunity to stick it to the bears and given the recent participation we need to entertain the notion that we may see a more thorough correction. Now, the fat lady has not sung yet but we need to make sure to watch that hungry bitch before she raids that refrigerator again:

So this is where we are at – there’s an hourly NLSL at 1750.25 plus the daily dons one at 1751.5. So let’s just call it 1750 and be done with it – shall we? If we breach today’s lows overnight or tomorrow then I think this thing will resolve lower. Until a breach of 1750 happens market makers may just have had some EOM fun and this will lead higher. So set your alerts folks and let’s keep watching the spoos overnight.

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Cheers,