Tuesday Battlefield Map
I don’t have too much to say tonight but wanted to give you guys a quick update on the count so that everyone is properly briefed for tomorrow. Whatever you do – don’t let those cattle prod wielding market makers push you out of your long term positions prematurely.
I know I sound like a broken record but just in case it didn’t sink in yet: There will be many headfakes and as we don’t have a crystal ball we need to rely on probabilities. The levels provided on the chart below are where I see strong resistance which should ideally not be breached:
I am sticking with my 1150 mark – if we push much past 1155 on the SPX things could get dicey. Yes, technically we can go all the way to 1170 but the odds for both Soylent Green and Orange would start to soften.
Maybe this will make you feel a little better. Copper keeps pointing down – not good for equities over the long term. Fade the noise – ignore the whipsaws – think long term.