(Joshua 24:15, NIV)
You may like to gamble, you might like to dance
You may be the heavyweight champion of the world
You may be a socialite with a long string of pearls.
But you're gonna have to serve somebody, yes indeed
You're gonna have to serve somebody,
It may be the devil or it may be the Lord
But you're gonna have to serve somebody.
the upside on Thursday, and from the 1089.25 big resistance
area the market pulled back for about 30 minutes and turned
back up. The ES went from 1082.50 up to the 1094 resistance
area and then traded sideways going into early afternoon.
The 1089-1088 updated support was reached, and from 1087.50
a quick reversal occurred and a rally back to the 1094.75
area followed. A pullback then held at the 1091.50 updated
support and then the market broke the range to the upside.
The 1097.75-1098.50 zone was rejected but the market refused
to buckle and with 30 minutes left the market headed back up
and reached the 1103 level on the SP500 cash at the close.
The market had a strong move higher, similar to Monday's big
up move. The closing Trin was an extreme .32, about as
strong internally as it gets. In addition, the Vix imploded
15% and gave a couple of sell signals. The RBI oscillator is
very overbought, among other short term gauges.
Who you gonna choose?