Quick Mid-Day Update

  • It's more or less the 6th day in a row now where equities open higher and just do the sideways shuffle.  It's boring and not worth trading. 
  • For bucket 1 we still think today-s up-gap may fill..i.e. to the closing levels from last Friday, in the S&P 500.
  • Transports, the oil services, oil itself, and equities sit right at resistance, which they have to overcome to push everything higher
  • The inverse of this is the dollar index, which found resistance last week and a push lower would likely be the catalyst to push equities higher…it remains the most important chart for us
  • We would like to be buyers into year-end and possibly January/February with bucket 2 longs on a pullback here
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